Almost all retirees will have to get by with less money. Suggestions ranging from trimming the fat and downsizing, to taking advantage of lower tax rates and relocating.
According to the Social Security Administration, the median annual household income for married couples over 65 was $50,772 in 2013. However, the U.S. Census Bureau reported recently that the median annual income for those between 55 and 64 was over $57,000. That's good for a nearly 12% reduction in income.
If you're already in that boat, or if retirement is fast approaching, it's time to figure out how you can save some money in retirement.
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