Halloween Spending and Retirement

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Today’s Question:

Halloween is rapidly approaching and it’s a holiday that generates a lot of spending in our country. We’ll take a look at the numbers behind the holiday and how it impacts our economy. Of course it will all tie back into retirement planning and BOOdgeting budgeting.

 

Confidence Corner

If we told you the average amount spent during Halloween was right around $85, which side of that number would you be on?

The upcoming holiday got us thinking about the economy and how much this final quarter impacts the year. It all begins with Halloween as we buy pumpkins, candy, costumes and decorations. We have some facts to share on this podcast about those topics along with how spending has changed over the past few years.

How well do you handle the expenses associated with each holiday? Are you able to stick to a budget? We’ll all have to do that when we get to retirement (if you don’t want to run out of money) so getting some practice in now is a good idea.

We’ll discuss that plus the other ways Halloween ties into financial planning on this episode of The Financial Answer podcast. Listen to the full spooky episode and click on the timestamps below to skip around to different topics.  

[0:47] – Nathan is back from vacation.

[1:47] – Halloween is approaching so that’ll be the theme for the show.

[3:23] – We have seven facts that show how Halloween boosts the economy.  

[4:33] – How much we spend on average on Halloween and how much that adds up to.  

[5:19] – 2018 we saw fewer people celebrating but a higher average spend.  

[5:57] – The average American says they don’t have enough in savings to cover a $500 emergency yet we set aside $100 for Halloween.

[7:19] – The top five candies.

[8:45] – Make sure you think about your plan when you’re budgeting for holidays.

[10:53] – Do you recommend clients practice budgeting for retirement before they get there.

[12:28] – You’ll have to adjust your budget in retirement because of inflation and other factors.  

 

A Point Of Wisdom:

 

Related Content:

PODCAST: 4 Types of Spenders

PODCAST: How to Manage the Stress of Retirement

 

Additional Resources:

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