Put your retirement budget to the test

Do you worry if you’ve saved enough money for retirement?

There’s a simple and easy way to eliminate your uncertainty and worry.

It’s by creating a realistic and comprehensive budget.

And if you test living on a budget for a year or two, you’ll learn all kinds of things about your spending habits and what things you can and can’t eliminate.

Below are some questions to ask yourself…

✓ What are your fixed monthly and yearly expenses?

✓ What are the infrequent expenses you can plan for (home repairs, medical, etc)?

✓ How much money will you receive in Social Security income?

✓ How much will you pay in taxes on your Social Security benefits, IRA and 401K withdrawals, and RMDs?

Set your budget and review it every month (or every quarter).

Are your expenses too high? Make necessary adjustments along the way.

Creating a budget is a simple exercise that could help you avoid running out of money in retirement.

Call us today at 801-682-1493!

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Advisory services offered through B.O.S.S. Retirement Advisors, an SEC Registered Investment Advisory firm. Insurance products and services offered through B.O.S.S. Retirement Solutions. The information contained in this material is given for informational purposes only, and no statement contained herein shall constitute tax, legal or investment advice. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. You should seek advice on legal and tax questions from an independent attorney or tax advisor. Our firm is not affiliated with the U.S. government or any governmental agency. Please note that we are unable to accept any trade requests via email, voice message or text.

 

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