Reported 8 months ago
For couples nearing retirement, determining a suitable monthly income plays a crucial role in ensuring financial stability and a comfortable post-work life. Budgeting involves calculating post-retirement income, essential expenses, and discretionary spending to avoid financial pitfalls and enhance the quality of golden years. By estimating sources of income like Social Security and investments, couples can plan for a secure retirement. Analyzing expenses such as housing, food, healthcare, and transportation helps couples create a realistic retirement budget, allowing for adjustments to achieve long-term financial security. Consulting a financial advisor can aid in developing a personalized retirement plan.
Source: YAHOO