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Retirementis an exciting time in many peoples lives.
You spent most of your working years saving enough money to live comfortably and do the things you enjoy.
Unfortunately, things can happen that make you question whether youve saved enough.
Over the past several years, inflation has caused nearly everything in our lives to cost more.
This has had a significant impact on retirees with a fixed income.
Also see how much the U.S. spends on Social Security every year.
They choose to do things based on happiness and not because of money.
While this can help create asteady income stream, it wont be for everyone.
Youll still be required to pay property taxes, insurance and maintenance.
This can help in covering expenses and preserving other retirement assets, Mittleman added.
Work With a Financial Planner
Many people work with a financial planner as they prepare for retirement.
However, once they enter retirement, this relationship can dwindle.
But this shouldnt be the case.
Financial planners can be a great resource to have at any stage of your life.
Theyll be able to look at your financial situation and suggest changes to your withdrawal strategy.
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