Retirement Living Expenses

Retirement Living Expenses:  you need sufficient retirement income to pay the bills, or you must reduce expenses, right?

Retirement Expenses  are the only way to cut back to live within your retirement income, if you don't care to work any more.

Are you estimating expenses for retirement?

Initially, when you first retire, consider a simple comparison of working net income vs. retired net income. How close are the two incomes? If they aren't close enough, that's where you need to either increase your income -- or cut back on your expenses.

Retirement Debt

Got debt in retirement? 

Lots of new retirees do, but that's not a good place to start  your retirement. 

Debt can feel overwhelming. If you’re struggling with debt  while working, the stress and weight of that same debt, in retirement, can really bring you down. Debt affects your life, your attitude, and your retirement options.

Debt is like having a monkey on your back, day in and day out. The monkey gets heavier when you retire... because your income is now limited. That income has to provide your full lifestyle, AND pay for the previous debt too.

If you could return to work, even part-time, it might be worth your consideration -- simply to get out of debt.

Budget for your Retirement

WHY you need a budget for retirement... because it matters. Most retirees (heck, most people) do not have a written budget or any plan for their money. 

  • Do you know where all of your money is going?
  • Do you wonder, mid-month, where you spent your money?
  • Was it spendable cash or did you plan for that money to be spent somewhere else?

Frugal Retirement  

Cheap Retirement is possible... you just gotta think about what you are spending. You can consider downsizing as so many do that nowadays, and maybe even do a Garage Sale to help!  I buy online deals now using ebates... every little bit helps!

Living Cheap in Retirement might mean moving to another country where cost of living is cheaper.. or not!