7 Terrific Tips for Budgeting in Retirement

Many of us plan for retirement, but no plan is perfect and unexpected expenses can creep up when we least expect them. It is important to establish a comprehensive budget to ensure a stress-free retirement. Therefore, plan early and plan well. Here are seven steps to get you started.

  1. Assess your Finances

It is important to know your expected monthly income before you plan. Keep a detailed list of expenditures when planning for retirement.

  1. Experiment

Allow flexibility in your budget. Do not rely on a fixed monthly income. No single month will be the same and you should plan accordingly.

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