Arlo Guthrie, Alice discussed on The Retirement Factory with Euclid Financial
Lifestyle, and this is where everybody kinda squish them together. It's not a TV VCR separate those two. You have a TV and you have a VCR. We all know the problems of TV VCR. When you have that, you have a really big broken TV if your VCR dies or if your TV dies, you have the ugliest VCR known to man. So don't squish them together because if one breaks they both don't have to break. That's exactly right. So if your lifestyle gets out of whack, it doesn't have to affect your expenses. This little Amac VHS you're still going to go on Somebody in just? Just pulled over. Going what are you saying repeat that again so here, it is, if you mess up your lifestyle you overspend you buy, a corvette because you had to have it. But you really didn't have to have it it doesn't have to affect your expenses. That your lifestyle that's part of, the budget you could have blown a, budget but you didn't mess up your expenses, which, means, that you did. Mess up food clothing. Shelter or your medical these are really important we're. Going to talk about this the entire show if you are trying to figure out what to do and. You're trying to figure out, what I'm saying give us a call here. Talk to the folks at the front desk they'll get you into talk to somebody in lay. Out the difference between lifestyle, budgeting and. Expenses, 401. seventy seven to, seven, two, seven, again that's, four zero. One seven two seven twenty seven twenty seven I think the cleanest thing that take away from that is if you, can understand what you're bare minimum expenses are that's going to give you the. Confidence to start dreaming big on your lifestyle so you have an idea. Of what you, are actually going to do what's your purpose which are identity In retirement. See you can set your budget to it because you're going to have a certain amount of money you. Know has to come in, every single year to cover your basic needs. And then you're going to have a little bit extra on top of that to do all. The fun stuff you're nailing, this when. It, comes to the budget, if, you, can, understand the, three types. Of income guaranteed predictable and flexible it's gonna make your budget make a lot more sense to by far so because, you'll understand what what's covering the expenses in what's covering that life and it. Gives you that sense of confidence because if you do screw up we. Will screw up, which it happens I believe. The phrase is the best laid plans of men in, mice often go, awry why I think the I think the other one is it's not it's not the destination it's the journey for retirement journey all the time kind. Of stuff so you wanna make sure as a baby boomer when you stub, your toll we just stubbed it stream Yeah Dr come. Back come. Back So the, idea to understand there's two. Two different things working here. There's a expense four things. Don't confuse it for things say it with, me if you're out there it's coming around. To get on the, tar, it is food. Shelter clothing and medical expenses those are the four things that are guaranteed for. The rest of your life, so if everything goes wrong you're still. Okay as the best cadence. I had a great job. I love, the, Arlo Guthrie that was yeah. I'm telling you. Alice's restaurant, I love Love it we're having way too much fun here. Today now everybody I mannerisms and it's, my pleasure to be part of.