6 Ways to Make Sure You Have Enough Money for Retirement

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3. Base Fixed Expenses on Social Security Benefits

Once you’ve retired, you need to come to terms with the fact that you won’t be living from a wage. It’s time to let your social security payments call the shots. Make sure your Social Security can cover any rent/mortgage and utility bills, food and the day-to-day costs of living.

If you’ve already paid-off your mortgage and car, and your debt-free, your social security money should be enough. If it isn’t, you’ll need to take a hard look at your lifestyle and see where you can cut down.

While you might have plenty of cash in your retirement, if it’s invested in stocks and bonds it’s not 100% reliable and you won’t have instant access to it. If you are able to live from your Social Security check alone, you will give yourself the most secure future you can.