Here’s How to Budget in Retirement So You Don’t Run Out of Money
Take these steps to make sure life after work is enjoyable.
Editor s Note: This story originally appeared on The Penny Hoarder.
You’ve spent decades in the workforce earning a living, your schedule dictated by the demands of the job. All the while, you’ve been steadily adding to your savings so that one day you could get to this point: retirement.
Now, there’s no alarm to wake you up in the mornings and no boss to answer to. You can finally get around to crossing items off your bucket list or simply have the opportunity to catch a midweek matinee movie.
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How to right your retirement savings after coronavirus setbacks
Updated Feb 06, 2021;
This article provides information and education for investors. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities.
The COVID-19 pandemic and shutdown upended our lives on multiple fronts. While enduring widespread unemployment and the economic downturn, many Americans leaned on their retirement accounts to help make ends meet. If you experienced retirement savings setbacks, consider using these strategies to refill your retirement bucket in 2021 and beyond.
Reassess your situation
“If you had to take a 401(k) loan or withdrawal, empty an IRA out or dig into your Roth, don’t worry, there are ways you can get back on track without it greatly affecting your retirement goals,” says Cameron Burskey, managing director of retirement security at Cornerstone Financial Services in Southfield, Michigan.
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January 25, 2021 9:13 AM Tiffany Lam-Balfour
Posted:
Updated:
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This article provides information and education for investors. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities.
The COVID-19 pandemic and shutdown upended our lives on multiple fronts. While enduring widespread unemployment and the economic downturn, many Americans leaned on their retirement accounts to help make ends meet. If you experienced retirement savings setbacks, consider using these strategies to refill your retirement bucket in 2021 and beyond.
Reassess your situation
“If you had to take a 401(k) loan or withdrawal, empty an IRA out or dig into your Roth, don’t worry, there are ways you can get back on track without it greatly affecting your retirement goals,” says Cameron Burskey, managing director of retirement security at Cornerstone Financial Services in Sout