Live Well in Retirement without Breaking the Buck

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Set your priorities and watch out for “budget vampires,” urge Morningstar – Independent Investment Research readers.

Savvy retirees know that successful portfolio oversight is just one part of financial success in retirement. Managing expenses is also essential, whether your idea of a splurge is a casual lunch with friends or a luxury cruise.

I had asked readers to share their tips for successful budgeting in a previous thread, but enough time had elapsed that I wanted to get their takes on this important topic again. I wasn’t just looking for conventional advice about clipping coupons and taking advantage of early-bird specials. Not surprisingly, respondents were eager to share their wisdom on everything from saving on groceries and health-care costs to swinging high-end travel without busting the budget.

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