The Spending Window

Daniel J Wendol - Angelo R Derosalia

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Spending Freeze

Will a “Spending Freeze” help plan for retirement?

Will shutting your Spending Window for a week before retirement help you during retirement?

Author Dan Wendol addresses this concept on his retirement focused podcast.  The concept is for pre-retirees to use a week long spending fast to help determine their baseline income need during retirement.

You can listen to that podcast here:

Spending Freeze for Retirees Key Points:

  • Retirees need to know their baseline income need
  • Uses a set time of not spending to determine baseline income
  • Critical expenses during a spending freeze are documented
  • Spending freeze documentation added to a broader budgeting template
  • Goal is to become mindful or more aware of expenses
  • Great for those who have never created a budget or don’t want to engage in traditional budgeting tactics.