The make-or-break factor in retirement: Keeping a budget

Rodney Brooks of The Washington Post includes Joe Heider, president of Cirrus Wealth Management, in an article that stresses the importance of creating a budget for retirement. “It’s important, more so than when you are working. If you overspend while you are working, you always have more income. Once you get into retirement, if you overspend, you will start dipping into your principal. It can create a downward spiral. You don’t have the earnings to make up for it,” he says.