Check if your retirement savings are enough
Come and think about it, retirement involves less expenses than any other part of your life… at least that’s the theory. And, as we all know, theory doesn’t always match with the real life.
The question whether you saved enough for retirement or not depends on your goals, plans and income. Reviewing all of your potential retirement income sources (401k, IRAs, pension, Social Security, etc.) will help provide an answer to this important question.
Decide where you want to live
Even though the main purpose is saving to live better during retirement, the place where you will spend yours determines how happy you will be for the rest of your life. Also, depending on your current situation, there may be a chance to save some extra cash as well!
If your children have already moved out, the house may be too big for you. It can go the other way around too: you may want a bigger garden for your outdoor hobbies. Or, why not make your dream of living by the sea finally come true and buy a new place? It all comes down to what you want and there are advantageous solutions for everything if you know where to look for them.
1 thought on “10 Useful Financial Tips Few Retirees Know About”
I would like good upto date info to handle RMD. And ideas tips on where to place the Required amount if we don’t need to use it?
Thank you
Tina vick