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7 Ways to Stretch Your Retirement Income

7 ways to stretch your retirement income Bankrate.com Most people probably don't expect to outlast their financial assets in retirement. But between the shortage of traditional pensions, paltry savings levels and ever expanding life spans, many Americans could see their money dry up before retirement ends. Do a cash flow ANALYSIS Less than half of workers - 47 percent -- say they or their spouse have tried to calculate how much money they will need for a comfortable retirement. DELAY retirement People are retiring later due to economic and other factors. The median retirement age for retirees increased from age 59 in 1991 to age 62 by 2003. REBALANCE your portfolio Rebalancing can help you match your investments with your original goals or accommodate your changing needs. Experts recommend that your investment accounts be reviewed periodically for increased return potential. CATCH UP on your 401(k) Depending on your age and your account balance. catch-up contributions could add a much needed boost to your retirement account, especially if returns are good while you accumulate the money. PUT OFF collecting Social Security OCIAL NECURIT If you're making a good salary and can keep working longer. it would likely be to your advantage to wait before collecting benefits. If you wait until age 70, your check could be nearly twice what it would be at age 62. DOWNSIZE in retirement You may not have to downsize if you have enough saved to carry you through retirement. But if you don't, you'll need to make some adjustments such as cutting spending. choosing more affordable housing and taking cheaper vacations. STRIVE for good health Retired elderly couples will need about $250.000 in savings to pay for basic medical care over the rest of their lifetimes. By eating healthy and exercising, you can cut down on out-of-pocket medical expenses substantially. Sources: The Employee Benefit Research Institute. The National Coalition on Health Care 7 ways to stretch your retirement income Bankrate.com Most people probably don't expect to outlast their financial assets in retirement. But between the shortage of traditional pensions, paltry savings levels and ever expanding life spans, many Americans could see their money dry up before retirement ends. Do a cash flow ANALYSIS Less than half of workers - 47 percent -- say they or their spouse have tried to calculate how much money they will need for a comfortable retirement. DELAY retirement People are retiring later due to economic and other factors. The median retirement age for retirees increased from age 59 in 1991 to age 62 by 2003. REBALANCE your portfolio Rebalancing can help you match your investments with your original goals or accommodate your changing needs. Experts recommend that your investment accounts be reviewed periodically for increased return potential. CATCH UP on your 401(k) Depending on your age and your account balance. catch-up contributions could add a much needed boost to your retirement account, especially if returns are good while you accumulate the money. PUT OFF collecting Social Security OCIAL NECURIT If you're making a good salary and can keep working longer. it would likely be to your advantage to wait before collecting benefits. If you wait until age 70, your check could be nearly twice what it would be at age 62. DOWNSIZE in retirement You may not have to downsize if you have enough saved to carry you through retirement. But if you don't, you'll need to make some adjustments such as cutting spending. choosing more affordable housing and taking cheaper vacations. STRIVE for good health Retired elderly couples will need about $250.000 in savings to pay for basic medical care over the rest of their lifetimes. By eating healthy and exercising, you can cut down on out-of-pocket medical expenses substantially. Sources: The Employee Benefit Research Institute. The National Coalition on Health Care - 20| 7 ways to stretch your retirement income Bankrate.com Most people probably don't expect to outlast their financial assets in retirement. But between the shortage of traditional pensions, paltry savings levels and ever expanding life spans, many Americans could see their money dry up before retirement ends. Do a cash flow ANALYSIS Less than half of workers - 47 percent -- say they or their spouse have tried to calculate how much money they will need for a comfortable retirement. DELAY retirement People are retiring later due to economic and other factors. The median retirement age for retirees increased from age 59 in 1991 to age 62 by 2003. REBALANCE your portfolio Rebalancing can help you match your investments with your original goals or accommodate your changing needs. Experts recommend that your investment accounts be reviewed periodically for increased return potential. CATCH UP on your 401(k) Depending on your age and your account balance. catch-up contributions could add a much needed boost to your retirement account, especially if returns are good while you accumulate the money. PUT OFF collecting Social Security OCIAL NECURIT If you're making a good salary and can keep working longer. it would likely be to your advantage to wait before collecting benefits. If you wait until age 70, your check could be nearly twice what it would be at age 62. DOWNSIZE in retirement You may not have to downsize if you have enough saved to carry you through retirement. But if you don't, you'll need to make some adjustments such as cutting spending. choosing more affordable housing and taking cheaper vacations. STRIVE for good health Retired elderly couples will need about $250.000 in savings to pay for basic medical care over the rest of their lifetimes. By eating healthy and exercising, you can cut down on out-of-pocket medical expenses substantially. Sources: The Employee Benefit Research Institute. The National Coalition on Health Care - 20| 7 ways to stretch your retirement income Bankrate.com Most people probably don't expect to outlast their financial assets in retirement. But between the shortage of traditional pensions, paltry savings levels and ever expanding life spans, many Americans could see their money dry up before retirement ends. Do a cash flow ANALYSIS Less than half of workers - 47 percent -- say they or their spouse have tried to calculate how much money they will need for a comfortable retirement. DELAY retirement People are retiring later due to economic and other factors. The median retirement age for retirees increased from age 59 in 1991 to age 62 by 2003. REBALANCE your portfolio Rebalancing can help you match your investments with your original goals or accommodate your changing needs. Experts recommend that your investment accounts be reviewed periodically for increased return potential. CATCH UP on your 401(k) Depending on your age and your account balance. catch-up contributions could add a much needed boost to your retirement account, especially if returns are good while you accumulate the money. PUT OFF collecting Social Security OCIAL NECURIT If you're making a good salary and can keep working longer. it would likely be to your advantage to wait before collecting benefits. If you wait until age 70, your check could be nearly twice what it would be at age 62. DOWNSIZE in retirement You may not have to downsize if you have enough saved to carry you through retirement. But if you don't, you'll need to make some adjustments such as cutting spending. choosing more affordable housing and taking cheaper vacations. STRIVE for good health Retired elderly couples will need about $250.000 in savings to pay for basic medical care over the rest of their lifetimes. By eating healthy and exercising, you can cut down on out-of-pocket medical expenses substantially. Sources: The Employee Benefit Research Institute. The National Coalition on Health Care - 20| 7 ways to stretch your retirement income Bankrate.com Most people probably don't expect to outlast their financial assets in retirement. But between the shortage of traditional pensions, paltry savings levels and ever expanding life spans, many Americans could see their money dry up before retirement ends. Do a cash flow ANALYSIS Less than half of workers - 47 percent -- say they or their spouse have tried to calculate how much money they will need for a comfortable retirement. DELAY retirement People are retiring later due to economic and other factors. The median retirement age for retirees increased from age 59 in 1991 to age 62 by 2003. REBALANCE your portfolio Rebalancing can help you match your investments with your original goals or accommodate your changing needs. Experts recommend that your investment accounts be reviewed periodically for increased return potential. CATCH UP on your 401(k) Depending on your age and your account balance. catch-up contributions could add a much needed boost to your retirement account, especially if returns are good while you accumulate the money. PUT OFF collecting Social Security OCIAL NECURIT If you're making a good salary and can keep working longer. it would likely be to your advantage to wait before collecting benefits. If you wait until age 70, your check could be nearly twice what it would be at age 62. DOWNSIZE in retirement You may not have to downsize if you have enough saved to carry you through retirement. But if you don't, you'll need to make some adjustments such as cutting spending. choosing more affordable housing and taking cheaper vacations. STRIVE for good health Retired elderly couples will need about $250.000 in savings to pay for basic medical care over the rest of their lifetimes. By eating healthy and exercising, you can cut down on out-of-pocket medical expenses substantially. Sources: The Employee Benefit Research Institute. The National Coalition on Health Care - 20| 7 ways to stretch your retirement income Bankrate.com Most people probably don't expect to outlast their financial assets in retirement. But between the shortage of traditional pensions, paltry savings levels and ever expanding life spans, many Americans could see their money dry up before retirement ends. Do a cash flow ANALYSIS Less than half of workers - 47 percent -- say they or their spouse have tried to calculate how much money they will need for a comfortable retirement. DELAY retirement People are retiring later due to economic and other factors. The median retirement age for retirees increased from age 59 in 1991 to age 62 by 2003. REBALANCE your portfolio Rebalancing can help you match your investments with your original goals or accommodate your changing needs. Experts recommend that your investment accounts be reviewed periodically for increased return potential. CATCH UP on your 401(k) Depending on your age and your account balance. catch-up contributions could add a much needed boost to your retirement account, especially if returns are good while you accumulate the money. PUT OFF collecting Social Security OCIAL NECURIT If you're making a good salary and can keep working longer. it would likely be to your advantage to wait before collecting benefits. If you wait until age 70, your check could be nearly twice what it would be at age 62. DOWNSIZE in retirement You may not have to downsize if you have enough saved to carry you through retirement. But if you don't, you'll need to make some adjustments such as cutting spending. choosing more affordable housing and taking cheaper vacations. STRIVE for good health Retired elderly couples will need about $250.000 in savings to pay for basic medical care over the rest of their lifetimes. By eating healthy and exercising, you can cut down on out-of-pocket medical expenses substantially. Sources: The Employee Benefit Research Institute. The National Coalition on Health Care - 20| 7 ways to stretch your retirement income Bankrate.com Most people probably don't expect to outlast their financial assets in retirement. But between the shortage of traditional pensions, paltry savings levels and ever expanding life spans, many Americans could see their money dry up before retirement ends. Do a cash flow ANALYSIS Less than half of workers - 47 percent -- say they or their spouse have tried to calculate how much money they will need for a comfortable retirement. DELAY retirement People are retiring later due to economic and other factors. The median retirement age for retirees increased from age 59 in 1991 to age 62 by 2003. REBALANCE your portfolio Rebalancing can help you match your investments with your original goals or accommodate your changing needs. Experts recommend that your investment accounts be reviewed periodically for increased return potential. CATCH UP on your 401(k) Depending on your age and your account balance. catch-up contributions could add a much needed boost to your retirement account, especially if returns are good while you accumulate the money. PUT OFF collecting Social Security OCIAL NECURIT If you're making a good salary and can keep working longer. it would likely be to your advantage to wait before collecting benefits. If you wait until age 70, your check could be nearly twice what it would be at age 62. DOWNSIZE in retirement You may not have to downsize if you have enough saved to carry you through retirement. But if you don't, you'll need to make some adjustments such as cutting spending. choosing more affordable housing and taking cheaper vacations. STRIVE for good health Retired elderly couples will need about $250.000 in savings to pay for basic medical care over the rest of their lifetimes. By eating healthy and exercising, you can cut down on out-of-pocket medical expenses substantially. Sources: The Employee Benefit Research Institute. The National Coalition on Health Care - 20|

7 Ways to Stretch Your Retirement Income

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The transition from working to retirement can take some adjustment. Not only do you have to learn how to restructure your days but you also need to be carefully about your spending. This infographic s...

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