6 Ways to Make Sure You Have Enough Money for Retirement

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4. Leave the Principal in Your Retirement Fund Alone

Plainly speaking, to make the most out of your retirement fund you’ll want to live from the interest and not spend the principal amount. Using a combination of the interest and your Social Security payments, you should be able to enjoy your retirement and know that you will be stable until the end of your days.

If, however, your principal amount is lacking you’ll struggle to live from the 10% interest. For example, if your nest egg is a principal amount of $200,000, you’ll get $20,000 to live on for a year.

But, if you’ve only got $50,000, it could be a struggle to only receive an extra $5,000 on top of your Social Security. That’s why it pays to start saving for retirement as early as possible, so that you can make sure your future is secure.