Retirement Income Shortfalls

If you’re lucky, your expected income sources will be more than enough to fund even a lengthy retirement. But what if it looks like you’ll come up short? Don’t panic–there are probably steps that you can take to bridge the gap. A financial professional can help you figure out the best ways to do that, but here are a few suggestions:

• Try to cut current expenses so you’ll have more money to save for retirement
• Shift your assets to investments that have the potential to substantially outpace inflation (but keep in mind that investments that offer higher potential returns may involve greater risk of loss)
• Lower your expectations for retirement so you won’t need as much money (no beach house on the Riviera, for example)
• Work part-time during retirement for extra income
• Consider delaying your retirement for a few years (or longer)

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