If you were to retire today, would you have enough money saved to live without worries?  Many of you will say no that you don’t have enough.

Right now you are use to living a certain way, to be able to keep this way of life, you would have to save much more than what you may have.

Most likely, many of us were depending on receiving that social security check.  However, they are constantly saying that many of us, at the age of retirement, will not get a social security check.

We will have to depend on our savings. Many Americans are truly concerned right now as they get closer and closer to retirement age.  What will they do?  How will they be able to pay their bills and live comfortably?  To be able to secure a comfortable retirement, there may be certain sacrifices that will have to be made.  Here are few suggestions that may help.

Eliminate debt

Best thing to do is pay off as many debts as possible before you retire.  One of the debts that many plan to have paid off by the time they retire is their mortgage, which is a great idea.  Two other debts that should be paid off before retiring are car payments and credit cards.  If the credit cards are paid off that gives you more money to help during retirement.

Home

Another good decision would be to sell your home.  Your children have moved out and the house is just too big right now.  Sure it is paid off but the maintenance is just too much.  Consider selling it and moving into a condo or townhome.  It is smaller, less expensive and the extra money you have from the sell of the house, you can add it to your nest egg.

Moving

Consider moving to a city that doesn’t have a high cost of living.  You are no longer working, tied to work, why not find a new location to live in.  The key is to find a location that has affordable housing, plenty of activities for seniors, health care, recreation and lower taxes.  Financial planners suggest the Midwest or South.

Senior Discounts

Take advantage of the discounts offered to you b retailers, restaurants, entertainment, etc.  Join the AARP; they always have great offers to make life so much better.  They offer discounts on car insurance, health insurance, vacations, etc.  Don’t let these perks go, use them often.

Vehicle

If you have more than one vehicle, you might consider selling one.  Since you are no longer going to work, going to separate offices, ditching that extra car would be beneficial.  You can save on gas, car insurance and maintenance bills.

Medicare

Make sure to sign up for Medicare on time, at least three months before your 65th birthday. By doing this, you will avoid a 10% premium increase on Medicare Part B.