People tend to worry about running out of money when they retire; recent surveys show that this is actually a top concern.
However, even if these fears may be justified, enjoying your retirement on your terms is perfectly possible, especially if you plan it.
When it comes to using your Social Security, you should know that the later you retire, the bigger your benefits, especially if you coordinate them with those of your spouse. Purchasing an immediate annuity is another option, but the funds are available on a schedule and there may be very high fees. The best thing is to work with your financial advisor and make sure you remain inflation-protected and maintain your budget.
Besides financial planning, you can save money in independent living by setting up your budget, listing your expenses in categories (property taxes, utilities, insurance etc.) and allocate them over a full year. Compare them with your yearly total income and, if they are equal or higher, you know that you must adjust your budget by making a few modifications in your lifestyle. Living close to the Tyler physical rehabilitation centers helps to save time and money too.
Look for senior discounts, clip coupons and use price matching offered by different stores. If you use more frequently your laptop or tablet, cut the cable and stick to the internet. Sell collections you are no longer interested in. Donate things you do not need and save the receipts to be able to deduct them from taxes. And the list of options can go on.