Americans have a negative reaction to the word 'budget' and often avoid knowing where their money goes. However, a budget is essential for a successful retirement. A recent poll found that 70% of Americans believe a budget would help them, but 40% admit to never having one. A spending plan is a better term for a budget. It is important to be honest about spending habits and prioritize needs and wants. Savers may need encouragement to spend their hard-earned money in retirement. Gold as an investment can be risky, and physical gold may be difficult to sell. An ETF could be a better option for investing in gold.