Are You Being Too Frugal in Retirement?

From the Kiplinger website

You’ve worked hard your entire life, and now it’s time to enjoy the fruits of your labor. You have saved, you have budgeted, and you have prepared for this moment for almost all of your working years. But, despite all of these efforts, you are still afraid. You are afraid to spend your hard-earned savings.  You are afraid that you are going to live so long that you run out of money.

Irrational? Actually, it’s very common and in many cases, the worry might be warranted. However, for many — particularly those who have planned properly — the fear is likely unfounded. This overwhelming fear can actually lead to something that does not get much attention: underspending in retirement.

Underspending in retirement is more common than you would think, and it can lead to a less-than-satisfying retirement lifestyle, defeating the purpose of all of that planning.

So how do you strike the right balance between common-sense frugality and frivolity? Here are four tips to help you loosen the purse strings and live a little!