2. Revising your spending plan


Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Divorce
Death of a Life Partner
Military Life


Revising your spending plan. “How will my expenses change when children go out on their own?”

When your nest empties there may be a tendency to enjoy your new-found freedom and, well, live a little. However, it is very important to assess your longer-term future and determine how much you need to save to reach your financial goals. To do so you should assess and revise your spending plan.

The following subtasks may assist you in revising your spending plan. You will find detailed resources for these subtasks under the links in the right column of this page.

Subtask 1: Assess the realities of the empty nest phase of life

Subtask 2: Control spending

Subtask 3: Develop a financial plan for an empty nest


Emptying the Nest Tasks

1. Financing college
2. Revising your spending plan
3. Planning for long-term care
4. Preparing for retirement
5. Estate planning

Revising your spending plan Subtasks

1. Assess the realities of the empty nest phase of life
2. Control spending
3. Develop a financial plan for an empty nest

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