Financial advisors warn that the first year of retirement often determines how long savings will last and whether homeowners can comfortably stay in their homes, according to reporting by Kiplinger.

“The first year of retirement is one of the most defining periods in a person’s financial life,” said Renee Collins, founder of Retire Ready Inc., told the outlet. “It’s not just about leaving work — it’s about creating a new identity and relationship with money.”

Advisers warn that retirees frequently spend too freely in their “go-go years,” when travel and leisure costs peak. The latest Consumer Expenditure Survey from the details ⇒

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