Congratulations – you are finally retired! You deserve that vacation, those meals out 3 nights a week, and the car of which you have always dreamed. But what is the real cost? A common mistake many retirees make is living beyond their means. There is a “why wait” attitude that many retirees have that can lead to disaster. You still need to have a budget and spend modestly, not like the money is burning a hole in your pocket. If you live a modest financial life in retirement, you will reduce the risk of outliving your savings.