I've Retired... NOW WHAT?!

Retirement can be a financial challenge, even if you’ve prepared for it. Although Social Security pays a regular income, with an average monthly benefit of just $1,789, it’s not enough to fully fund your retirement expenses. Since you’ll no longer have a regular job, it’s imperative to make the money you have last as long as possible.

Depending on your personal financial situation, there are steps you can take to stretch your retirement income. Here are some of options for @Everyone to consider.

Downsize

Housing is the single largest expense for most Americans, so it’s the easiest way that you can cut your costs in retirement. For example, if you have owned a four-bedroom home your entire life but no longer have kids living with you, downsizing yourself to a two-bedroom or even one-bedroom house can significantly reduce your living expenses.