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One surprise that may hit you in the first few years of retirement — even after you say goodbye to work expenses and retirement account contributions, you may end up spending more than when you had a job.
As you approach retirement, you may hear financial planners cite three phases of retirement that dictate spending habits: Go-Go, Slow-Go and No-Go. In the Go-Go years, typically between 65 and 75, healthy young retirees spend heavily to cross lifelong dreams off their bucket list — and they tend to make big purchases that can lead to regrets.
JP Morgan’s Withdrawal by Numbers the report found that retirees’ average spending gradually declines by more than 30% between the ages of 60 and 85, as they move in and out of the Go-Go and Slow-Go years (1).
According to AARP, some of the top spending regrets retirees are likely to have include expensive trips, improvements to their dream home, purchases of fancy cars, boats or RVs and some impulse online purchases.
While it’s important to manage your retirement savings well, you shouldn’t be afraid to spend money on the retirement of your dreams if you plan accordingly. Here are three ways to prepare your finances for retirement while making sure you can still enjoy the newfound freedom it brings.
The United States Bureau of Labor Statistics reports that the annual inflation rate increased by 2.7% in November 2025 (2). With the economy still on shaky ground, your 401(k) or IRA – and your retirement itself – could be at risk.
A Gold IRA can offer a great way to protect and grow your nest egg, so you have the extra cash available for a dream purchase in those early retirement years. Unlike the US dollar, which has lost 87% of its purchasing power since 1971, the value of gold has increased over the past few years.
In fact, over the past year, investors have been flocking to safe assets such as gold to protect their portfolios amid a volatile economic backdrop. Gold prices rose by nearly 70% during this period, outperforming the 17.6% return of the S&P 500 index (3).
Goldco can help you safeguard your nest egg by rolling your retirement account into a gold IRA. This lets you combine the tax advantages of an IRA with the inflation hedging properties of gold.
By opening a Gold IRA with the help of Goldco, you will be looking for your future self and help secure your retirement fund. While inflation has increased everyone’s expenses, investing in precious metals can help diversify your portfolio and stabilize your finances.
Read More: Nearing retirement with no savings? Don’t panic, you are not alone. Here are 6 easy (and fast) ways to catch up
It’s not uncommon for people to take whatever rate they’re offered when it comes to insurance, but if you want to leave extra money available to buy that dream home or trip — making sure you’re not wasting money on overpriced insurance is essential.
The national average cost for full coverage car insurance is currently $2,697 per year, or approximately $225 per monthaccording to Bankrate (4).
Shopping around and bundling your auto and homeowners insurance can lead to substantial savings. Depending on what state you live in, your driving history and the make and model of your car, you could save up to $820 a year.
OfficialCarInsurance.com lets you compare quotes from trusted brands, including Progressive, Allstate and GEICO, to make sure you’re getting the best deal. The matching system takes into account your location, vehicle details and driving history to find the lowest possible rate.
Find deals starting at just $29 a month and switch your policy in just minutes.
Do the same for your home insurance, and you can save a significant amount of cash each year.
OfficialHomeInsurance.com takes the hassle out of shopping for home insurance. In just under 2 minutes, you can explore competitive rates from the best insurance providers, all in one place. OfficialHomeInsurance makes it easy to find the coverage you need at a price that fits your budget.
The side-by-side comparison is helping homeowners save an average of $482 on their home insurance policies.
If you have big retirement plans but feel overwhelmed about the financial choices you need to make to make them happen, consider talking to a financial advisor who specializes in retirement planning.
Advisor.com can quickly match you with an advisor who will guide you through your options. The platform’s advisors are fiduciaries — meaning they are legally bound to act in your best interest.
Just answer a few quick questions about your investment timeline and your goals, and Advisor.com will match you with a reputable financial advisor.
Book a free, no-obligation call today to find the best fit for your needs.
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JP Morgan Asset Management (1); US Bureau of Labor Statistics (2); Apmex (3); Bank Rate (4)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.