5 Ways to Track Your Budget in the Years Before You Retire

To be prepared for retirement, you need to have a firm idea of your spending needs. Here are some different methods to make sure you’re on track.

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There are many things I’m sure you’d rather do than evaluate your finances. Going to the dentist and cleaning out the garage come to mind. Whether you’re an avid budgeter who reviews your finances regularly, or one who would rather ignore that painful task, one thing is certain: Once you retire and need to start living off retirement income and investment earnings, you’ll need to have a good handle on how much money you’ll have each month, and what your monthly expenditures will be.

Until you’re aware of what you spend, you won’t be able to figure out which areas you may need to rein in to meet your long-term goals. Well before you get to retirement, you’ll want to track your budget. Whether you’re the detailed spreadsheet type, or the “I’d-rather-be-doing-anything-else-but-budget” type, here are several options to do just that.


This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Julia Pham, CFP®, AIF®, CDFA®
Wealth Adviser, Halbert Hargrove

Julia Pham joined Halbert Hargrove as a Wealth Adviser in 2015. Her role includes encouraging HH clients to explore and fine-tune their aspirations — and working with them to create a road map to attain the goals that matter to them. Julia has worked in financial services since 2007. Julia earned a Bachelor of Arts degree cum laude in Economics and Sociology, and an MBA, both from the University of California at Irvine.