One of the struggles for us as Financial Planners is to forecast the spending of a client thirty years in the future. In your forties and fifties you've got a lot of different expenses now (kids!) that you won't have in your eighties.

We built our process to separate out elder care expenses and other lumpier spending like travel from the day-to-day expenses but were never satisfied with how we portrayed living expenses in our plans.

With the great work of our summer intern, we now have StatsCan data that is the foundation of how we model living expenses over the different stages of life. Even better, we've built a handy tool to help other Financial Planners model this for their own clients. You can read the summary post by Rachel Majpruz and access our Shape of Retirement Spending tool here

The Shape of Retirement Spending | Bird’s Eye Wealth Planners
The first years of retirement spending are often marked with bucket-list trips and new hobbies, which gradually fade to a comfortable, slower-paced lifestyle, and finally, for many, residency in a long-term care home. These stages have been popularized as the Go-Go, Slow-Go and No-Go stages of retirement.
Bird's Eye Wealth Planners