Don't Let These 3 Retirement Surprises Ruin Your Senior Years
Sometimes, surprises in life can be pleasant, like if a friend sends you flowers on your birthday or a rainy day forecast turns sunny. But other surprises aren't as fun -- namely, some of the financial ones you might encounter during retirement. Here are three to keep on your radar so your finances aren't thrown off-course.
Many people go into retirement assuming that Social Security will provide enough income to cover most, if not all, of their expenses. In reality, the average senior this year collects a mere $1,543 a month.
Rather than rely too heavily on Social Security, work on boosting your personal savings so you have income on hand to supplement those benefits. If you have access to a 401(k) plan at work, it pays to sign up, especially if you're eligible for any type of employer match. And if you don't have a 401(k), fear not -- you can build a nice nest egg for yourself in an IRA instead.
Source Fool.com
