As the New Year starts, now is the time to look at your spending habits and determine if anything needs to change. For many people the new year brings a raise, this should not give you license to spend more. I advise my clients to increase what they are contributing to their 401k, keeping the extra money in your pocket vs. going to the IRS. Another thing to consider doing in this New Year is a monthly assessment of your spending. Retirement income guardrails are predefined thresholds triggering an increase or decrease in spending as needed. A regular assessment will help keep you within your guardrails and not running off the road.