Dual Incomes To Dream Retirement: DINK Couple’s Guide

Many of us aim to save more for retirement as our income grows over time. However, the idea of saving more with a surplus income isn’t always true, especially since higher income often leads to higher expenses. This trend is particularly pronounced in families where the couple have no kids. These couples are commonly known as DINKs, or Dual Income No Kid Couples. It has been observed that with two earning members having fewer future responsibilities, these couples have tendency to indulge in higher spending habits. There are typically two types of expenditures: mandatory and discretionary expenses. Mandatory expenses include things like rent, loans, and bills, which tend to increase over time due to inflation. On the other hand, discretionary expenses cover lifestyle choices such as parties, travel, and luxury items. The real danger lies in overspending or giving in to the...