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The consumer price index is the core indicator to set inflation numbers, he said.
Its hard to say how much of an increase would allowSocial Security recipientsto keep up with real inflation.
With fuel and food prices so high, 2.6% is not enough.
He added that continuing to save money in retirement is also very important.
When a person retires, nothing else retires.
Saving 10% to 15% of what they take in would be a great start.
It is a common behavior to impulsively buy things we may not actually need.
If you have a budget in place, you could eliminate the frivolous expenditures, she said.
Prioritize essential bills and find alternatives for discretionary spending, he said.
She said, If you go out to eat on a regular basis, cook more meals at home.
If you go golfing three times a week, consider only golfing once per week.
Many companies offer discounts for senior citizens.
These include everything from groceries to entertainment, and even some bills or services.
It might take a little research to find them, but it will be worth the discounts.
Work with a financial advisor who specializes in retirement planning, she said.
Rebalancing might be necessary to maximize your funds.
Planning for the unexpected can provide a sense of security in retirement.
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