For many retirees, the day they stop clocking in at the office ushers in a new era of freedom. Financial planners often refer to these times as the “go-go years,” as retirees are generally at their healthiest, most active and most eager to spend some of the money they’ve spent a lifetime saving.
Given these conditions, it’s perhaps not surprising that some retirees overspend on travel in the first five years. But while some level of celebration is no doubt earned, without guardrails in place, the long-term financial security they worked so hard to build can rapidly vanish.
