5 Ways You Can Pay for Retirement in Advance

In retirement your income is largely fixed. Your Social Security payments will increase only by the annual inflation rate. And you can safely withdraw only about 4 percent of your savings each year, perhaps also adjusted for inflation. Given these constraints, it can be difficult to cope with sudden or large expenses. One way to prepare yourself is to eliminate as many bills as you can before you retire. Your fixed income will provide for a better lifestyle if there are fewer bills you need to cover. Here are some retirement expenses you can pay for in advance.

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Damian Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755