In The News...
It's my honor to have been quoted in an article on MarketWatch.com about retiree spending behavior.
The article was subsequently picked up by media from different parts of the world. Here is an excerpt from the article, with quotes by Laura Thompson highlighted in blue:
To get a better idea of just how good or bad your spending is, try tracking it. You can do this by writing down everything you spent on a pad or in a spreadsheet, or using an app like Mint that categorizes your spending for you. Maybe do it for a month or two and see what you find. Some people print out their credit card and debit statements and use a highlighter to pore over their spending.
“It’s important to approach this process from a place of curiosity, not judgment,” said Laura Lee Thompson, a certified financial planner at GWN Securities. “Doing this helps to answer the questions: Does the way you spend your money align with your values? Followed by, is there anything that can be eliminated – or can you find a less expensive way to get it?”
You might find that your cable or cellphone bills would be less expensive with another provider, or that you’ve been paying for a magazine subscription you haven’t looked at in years. “The process can be empowering as it helps the retiree become more intentional and cognizant of their expenses,” Thompson said.