After retirement, you might not be making a lot of money that would be enough to sustain you, so you need to device a strategy to take care of yourself and even save if there is any leftover in your budget.
Making a budget is the number one on the list because you have to have an idea on how much you are spending, mark off unnecessary spending and only by what is required.
Secondly, you should start thinking of having a next source of income like a job or starting a small scale business when you realize the money you are making are not enough, as a retired personnel getting a job in the field you have expertise in should be your priority.
Thirdly, learn how to live frugal that is keeping your burning rate low, this can be achieved by buying only what is necessary and staying away from buying luxurious materials.
Most retired personnel tend to overspend there money either by going on an unnecessary vacation, buying new cars and just wasting money, you can do better buy saving and investing your money in appreciative assets such as the stock market, gold or even learning how to trade
Making a budget is the number one on the list because you have to have an idea on how much you are spending, mark off unnecessary spending and only by what is required.
Secondly, you should start thinking of having a next source of income like a job or starting a small scale business when you realize the money you are making are not enough, as a retired personnel getting a job in the field you have expertise in should be your priority.
Thirdly, learn how to live frugal that is keeping your burning rate low, this can be achieved by buying only what is necessary and staying away from buying luxurious materials.
Most retired personnel tend to overspend there money either by going on an unnecessary vacation, buying new cars and just wasting money, you can do better buy saving and investing your money in appreciative assets such as the stock market, gold or even learning how to trade
