Even retirees who do everything right can find themselves coming up short when it comes to affording some of the little luxuries they had planned for their remaining years. Just take a look at Mike and Judy, a hypothetical couple very similar to many retired couples, who saved and invested for decades in order to enjoy a secure yet stimulating retirement.
Thinking about the rest of your life — especially in terms of your finances — can be a scary but exhilarating proposition. Assuming it turns out to be as long of a time period as you would like it to be, thinking about it all at once can be daunting. However, breaking your life into nine stages can help you compartmentalize your retirement-planning process so you can take your goals one step at a time.