“When you’re living on a fixed income, it’s important to budget carefully and keep unnecessary expenses to a minimum. If you’re a senior with a fixed retirement income, it’s essential to approach paying bills, buying necessities, and making additional purchases in a way that allows you to cover your needs without living beyond your means.”
How to Thrive While Living on a Fixed Income in Retirement
When they hear the term “fixed income,” many people envision a paltry monthly living allowance that provides little if any discretionary funds to enable someone to actually enjoy their life.
However, living on a fixed income doesn’t necessarily relegate you to a life of scrimping and penny-pinching. Many retirees live on a fixed income of some kind, and it’s definitely possible to live well on a fixed income — the key is careful financial planning and budgeting…