--- title: Spending During Retirement description: We've talked about investments for retirement, now we're covering how to spend and preparing for spending during retirement. It's all about planning, making a budget, and deciding what to spend on, whether that be holidays, purchases, or simply day to day living. image: https://www.beyonddebt.com.au/hubfs/active-adolescent-affection-167300.jpg --- ![Top bar image](https://www.beyonddebt.com.au/hubfs/Assets%202019/Top%20bar%20image.jpg "Top bar image") ###### ![](https://www.beyonddebt.com.au/hubfs/Assets%202019/Tv.svg)Did you see us on TV? - [Click Here](https://www.beyonddebt.com.au/debt-help) ![Close](https://www.beyonddebt.com.au/hubfs/Assets%202019/Close.svg "Close") [![Logo](https://www.beyonddebt.com.au/hs-fs/hubfs/Assets%202019/Images/Beyond%20Debt%20black.png?width=560&height=128&name=Beyond%20Debt%20black.png "Logo")](https://www.beyonddebt.com.au) [![Logo](https://www.beyonddebt.com.au/hs-fs/hubfs/Assets%202019/Images/Beyond%20Debt%20white.png?width=560&height=128&name=Beyond%20Debt%20white.png "Logo")](https://www.beyonddebt.com.au) #### [![Phone](https://www.beyonddebt.com.au/hubfs/Assets%202019/Images/Button%20Copy.svg)**1300 284 091**](tel:1300%20284%20091) #### [![Phone](https://www.beyonddebt.com.au/hubfs/Assets%202019/Images/Button%20Copy.svg)![](https://www.beyonddebt.com.au/hubfs/Beyond%20Debt%20October2017/small-icon.svg)**1300 284 091**](tel:1300%20284%20091) [![Free Consultation](https://no-cache.hubspot.com/cta/default/2583772/02eddd09-66a0-4e61-9e59-63ae64bfd94a.png)](https://cta-redirect.hubspot.com/cta/redirect/2583772/02eddd09-66a0-4e61-9e59-63ae64bfd94a) #### [1300 284 091](tel:1300%20284%20091) - ##### [Eliminate Debt](https://www.beyonddebt.com.au/blog/topic/eliminate-debt) [## How to Get Out of Debt in 2026: The Australian's Step-by-Step Guide (And Free Budget Planner) ](https://www.beyonddebt.com.au/blog/take-control-of-your-debt) [Read Article](https://www.beyonddebt.com.au/blog/take-control-of-your-debt) # [Spending During Retirement](https://www.beyonddebt.com.au/blog/spending-during-retirement) - ###### Kristin Perissinotto - ###### 13 Oct 2018 ###### LATEST ARTICLES [Back to blog](https://www.beyonddebt.com.au/blog) - Share - [**](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.beyonddebt.com.au%2Fblog%2Fspending-during-retirement) - [**](https://www.twitter.com/share?url=https%3A%2F%2Fwww.beyonddebt.com.au%2Fblog%2Fspending-during-retirement) - [**](http://www.linkedin.com/shareArticle?mini=true&url=https://www.beyonddebt.com.au/blog/spending-during-retirement) It has been accepted in the past that a retired person will need to account for around 80% of their income after retiring, however, recent studies have found that this is not enough. Of course, this will all depend on the type of lifestyle you would like to lead! ![retirement plan budget ](https://www.beyonddebt.com.au/hs-fs/hubfs/active-bikes-cyclist-264073.jpg?width=450&name=active-bikes-cyclist-264073.jpg) ## Plan, plan, plan! The most important thing you can do to set yourself up for a comfortable retirement is plan! If you have hopes to travel and holiday and purchase a yacht upon retirement, you will need to have a much larger buffer than someone else who may be looking to lead a simple and quiet life at home. The first step is planning what you want post-work life to look like. Start thinking about what you want your retirement to include. It's never too early to start [planning](https://blog.beyonddebt.com.au/6-reasons-you-should-be-thinking-about-retirement) for your retirement. Be realistic about when you plan on hanging up your tools (or briefcase!) and start creating yourself a financial buffer as soon as possible. ![retirement spending budget](https://www.beyonddebt.com.au/hs-fs/hubfs/aged-cane-elder-33786.jpg?width=450&name=aged-cane-elder-33786.jpg) ## Make a budget Just as you would during your career, it is important to set a [budget](https://blog.beyonddebt.com.au/budgeting-for-you) for retirement! As you will be likely making less income, it is possibly even more important. You can use a [budget calculator](https://www.beyonddebt.com.au/calculators/budget-calculator/?_ga=2.80692695.1120339625.1538633538-899269527.1515647800) to get down all your living expenses and work out how much you can afford to spend in other aspects. A retirement budget may look a little different to your regular budget, and you may want to leave more room for holidays and trips, depending on your circumstances and what you would like to achieve in your later years. ![retirement investments](https://www.beyonddebt.com.au/hs-fs/hubfs/active-adolescent-affection-167300.jpg?width=450&name=active-adolescent-affection-167300.jpg) ## Investments If you have made [investments](https://blog.beyonddebt.com.au/investing-for-retirement) that pay dividends to fund your retirement, you may be able to live off the dividends as your income for a time. This is a great option if it is available to you, as you will receive a sum of money a few times a year, at which time you may like to spend it by making a purchase or going on a holiday. Alternatively, you may want to re-invest dividends and money you have made from investments. Learning about stocks and trading on the stock market may be something you've never had time to do before, and can be an excellent way to learn a new skill, keep your brain active, and make some money on the way.         ###### Ready to become debt free? #### Take the first step to a debt free future [Ready to become debt free?](https://info.beyonddebt.com.au/request-a-consultation) ### You might find these interesting - [Personal Finance Basics (126)](https://www.beyonddebt.com.au/blog/tag/personal-finance-basics) - [Handle Money (100)](https://www.beyonddebt.com.au/blog/tag/handle-money) - [Everyday Expenses (61)](https://www.beyonddebt.com.au/blog/tag/everyday-expenses) - [Affordable Living (50)](https://www.beyonddebt.com.au/blog/tag/affordable-living) - [Build Savings (33)](https://www.beyonddebt.com.au/blog/tag/build-savings) ## Ready to become debt free? #### Speak with one of our specialists to start your future [![About Beyond Debt](https://no-cache.hubspot.com/cta/default/2583772/e771166e-724a-4461-9ee9-fd819c4c0fe2.png)](https://cta-redirect.hubspot.com/cta/redirect/2583772/e771166e-724a-4461-9ee9-fd819c4c0fe2) [![Get Help](https://no-cache.hubspot.com/cta/default/2583772/8ac6a951-8425-44d9-91d4-0928fca0084e.png)](https://cta-redirect.hubspot.com/cta/redirect/2583772/8ac6a951-8425-44d9-91d4-0928fca0084e) #### [![Phone](https://www.beyonddebt.com.au/hubfs/Assets%202019/Images/Button%20Copy.svg)![](https://www.beyonddebt.com.au/hubfs/Beyond%20Debt%20October2017/small-icon.svg)**1300 284 091**](tel:1300%20284%20091) - ![Family-Owned-transparent-300x158](https://www.beyonddebt.com.au/hs-fs/hubfs/Assets%202019/Images/Family-Owned-transparent-300x158.png?width=115&name=Family-Owned-transparent-300x158.png) - ![pipa_logo_transparent_300w_100h](https://www.beyonddebt.com.au/hs-fs/hubfs/Assets%202019/Images/pipa_logo_transparent_300w_100h.png?width=151&name=pipa_logo_transparent_300w_100h.png) - ![Feefo](https://www.beyonddebt.com.au/hs-fs/hubfs/Feefo.png?width=115&name=Feefo.png) ##### Debt Help ##### Company ##### Resources Beyond Debt is a trading name of DCS Group Aust Pty Ltd. 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