Inflation jumped 7.9% in February. That may have retirees on a fixed income concerned about getting by or running out of savings during their golden years.
When food shopping, it may mean buying less red meat and more chicken, or going to a farmer's market for produce instead of the grocery store. Using coupons and comparison shopping can also help you save money.The best thing a retiree can do to protect their income from inflation is delay claiming Social Security, which will, in essence, buy more Social Security income, Finke said.
To focus on longevity so that you can sustain your financial independence in retirement, consider dividend-paying stocks, growth stocks and real estate, Cheng said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
What to Do When Your Monthly Social Security Check Isn't EnoughThere are many resources to which retirees worried about meeting their bills amid inflation can turn. Here are some of them.
Read more »
Airfares Are Soaring—Here’s How You Can Still Get A Good DealWith summer airfares already climbing fast, airline executives have not been shy in telling travelers that prices are only going to get steeper as we head into spring and summer
Read more »
Japan's Nikkei 225 Rises More Than 1%; Fed's Powell Vows Tough Action on InflationU.S. Federal Reserve Chairman Jerome Powell on Monday pledged tough action on inflation.
Read more »
Biden says economic strategy working after inflation rises to 40-year high and oil prices skyrocketPresident Biden on Monday touted his administration's achievements in improving the economy, but noticeably failed to address key developments that have bit into the pocketbooks of many Americans.
Read more »