The expression that the “devil is in the details” refers to the little often overlooked items that can sometimes “cost you” whether it is an overlooked item requiring compliance, a payment or exit clause for ending a contract that you did not see or just overlooking some ingredients in a recipe that resulted in a dud recipe.
In the world of personal finance we can at times be stretched when trying to find money in our budget to allocate to our investment and retirement plan. Inspecting our spending patterns and finding ways to cut expenses and save what may seem like small inconsequential expenditures can significantly miss the “devil in the details” and the bigger financial picture.
We are discussing this by way of example to illustrate how this one exercise can make a big difference. Just imagine if your investments and all the other details concerning your wealth were managed with the same expert precision. As we will illustrate, it can make ALL the difference and ensure you enjoy a more comfortable retirement. Let’s look at just 4 examples of where you may be able to cut expenditures and then add up the savings and what the value of doing this for 5 years could add up to over a 25 year period.
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