Why you could benefit from reviewing your financial habits as you transition into retirement

Retirement is a significant life transition. Some of the financial habits that served you well during your working life might no longer suit your retirement lifestyle.

Sticking to your current financial habits could mean you miss out on opportunities to enjoy your retirement, or even mean you risk using up your savings too soon. Read on to find out why.

The shift to depleting assets can be difficult for some retirees to manage

As you retire, you’ll often move away from earning an income and building wealth towards depleting your assets.

If you’ve established a good money habit of regularly saving or investing during your working life, it might be difficult to now spend your wealth. It’s something retirees might feel nervous about because they may worry they won’t have enough for later life.

Indeed, according to an