Rent Retired Broke: How to Fix Your Retirement

Synopsis

There seems to be a great number of people in underfunded retirements. Maybe you are one of them. Perhaps you want to retire, but you're basically broke. You don't have to be completely without money to have an unsuccessful retirement. A partially funded retirement is still considered retired broke, because your savings probably won't last as long as your retirement years. One-third of folks aged fifty-five to sixty-four in 2010 had no savings to finance their retirement. Another third of retirees had only managed to save a median figure of $100,000 for retirement. The book, Retired Broke – How to Fix Your Retirement will guide you through assessing your situation, making a plan, and finding creative solutions that will help you enjoy your retirement. Some of the ideas examined are extreme or drastic. Other ideas are perhaps easier to envision. You do not have to follow every step in the book to be successful; just select the ideas you feel comfortable with based on your situation. The theme here is to drastically cut expenses without sacrificing a comfortable living. Big-dollar items, such as housing, transportation, and health care, are examined for potential savings that can make a big impact on your budget. The book also discusses how to generate income if needed, such as casual income from part-time work, starting your own small business for less than $500, ways to best invest what savings you may have, how to tap into your 401(k) or IRA before age fifty-nine and a half without paying a 10 percent penalty, and other creative ways to generate income. Reading this book will give you ideas for dealing with an underfunded retirement and may give you peace of mind for living your retirement on your own terms.

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