Skip to Content
Investing Specialists

How to Create a Budget You Can Live With

We all need a budget, regardless of age, life stage, or whether we think we've 'made it' or not. Use our budget worksheet to get your spending and saving on track.

A few years ago, I received an e-mail from a couple seeking a portfolio makeover. They were in their mid-50s, and their portfolio had been taken on a wild ride during the financial crisis from 2007 through early 2009. That, in turn, had scuttled their hopes for retirement in less than a decade, and they were wondering how they could make up the lost ground.

This couple's investment portfolio, with more than 80% in stocks, was clearly too aggressive given their life stage. In talking with them about their finances, however, I discovered that their investments weren't their main problem. Their spending was.

To view this article, become a Morningstar Basic member.

Register for Free