Mainstream retirement planning these days is all about maximizing your spending in retirement. And that seems sensible, on the surface.
The theory is you want to spend as much as possible in retirement, subject to the whims of the stock market. So, if the market is down, you cut back. But if the market is strong, whoopee, you take an overseas vacation, do a bathroom remodel, choose a new vehicle perhaps….
But, is that really what it’s all about? The truth is, you don’t need to maximize your spending in retirement. You need to maximize your happiness.