Four Money Questions to Answer Before Retirement
4. If there is a shortfall, how can you can you make that up?
As you can see, this is pretty straight-forward. It's not complicated at all. It's a matter of comparing your resources (passive income from pensions and Social Security and portfolio income from investments and real estate) to your use of resources (average cost of living, accounting for inflation). If there is a shortfall, you have to do something about it. You can either:
Once you go through this exercise, you'll know if you have enough money to retire or not. If you don't have enough money and you really want to retire, you must find a way to either work the fourth step until you can make the math work.
That may mean downsizing your house, moving to a less expensive area or
It might be time to consider
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