A dried-up 
ement fund is one of the biggest fear among retirees. Staying independent, whether from family or the government, is invaluable — and you can take steps to ensure you stay standing on your own two feet until the very end.
Save Up
Whether you’re working in AT&T and up for retirement, a solid 401k is essential if you wont to retire in comfort. Most Americans have less than $100,000 in their 401k — and that can be problematic as life expectancy goes up along with the cost of living. You’ll need to stretch your savings to last up to 20 years — or more if you are particularly healthy.
Social security won’t be much help as its funds are almost spent. Savings from the past decades are dwindling as the current workforce is not enough to provide for the benefits of retirees. Your 401k is your lifeline — so make sure to put in as much as you can while you can. Catch-up contributions become available once you hit 50 — allowing you to contribute more money into your fund. If you don’t feel like retiring just yet, then try to find ways to keep working.
Discuss the situation with your employer and opt for a pay cut if it means you can work for a couple more years. Financial management firms can be extremely helpful if you want to invest in more than just your 401k or if you need help in managing your finances once you retire.
Cut Your Spending
Your retirement fund is limited — so managing your spending will ensure it lasts longer. Invest in a few measures that will pay off in the future. Get your house insulated. Proper insulation can cut your spending on gas and electricity by up to 30 percent. You can even go big with a residential solar power system.
Solar panels retain their efficiency for up to 40 years and they typically pay for themselves in 10-15 years. If you see yourself driving a lot, opt for a smaller car. A small car uses less fuel and you won’t be driving your family around so you don’t need a large vehicle. Electric vehicles are also a good option. A typical car will cost you 40-50 cents a mile — while an electric will only cost you 4 cents for the same distance.
Live Healthier
The biggest potential drain on your retirement savings is healthcare costs — and one of the biggest factors in senior hospitalizations is obesity. Packing extra weight will cost you thousands of dollars a year and potentially cut your life short. Being overweight also taxes your body — hampering your mobility and increasing your chances of getting into accidents.
Proper diet and a bit of exercise every day can decrease the need for hospital visits as well as ensure a better quality of life. As little as 30 minutes of exercise can make a big difference — whether it be just walking the dog or doing a bit of gardening.
Retirement should be something to look forward to — not something to fear. Take measures now to ensure a comfortable retirement in the future.
