Give Yourself a Pay Raise in Retirement
August 17, 2021 by Geoffrey Johnson
Because inflation erodes purchasing power, it’s painful for just about everyone. But it can be especially challenging if you’re a retiree whose budget is based on a fixed income.
Remember: Retirees can’t count on getting pay raises the way those who are still working typically can.
In retirement, you’re creating your own “paycheck” — usually from Social Security benefits; maybe a pension or two; and your savings, investment and retirement accounts.