Retirement brings a significant shift in one’s financial landscape, often moving from a steady paycheck to living on a fixed income from savings and pensions. Budgeting becomes an even more critical tool during this life stage, as it helps manage limited resources and ensures that retirees can enjoy their golden years without financial stress.
In this article, we’ll discuss the adjustments that need to be made to your budgeting strategy post-retirement. We’ll cover how to account for changes in income and expenses, the role of healthcare costs, and how to plan for both the expected and unexpected to maintain a comfortable lifestyle.