Retirement can be a time to sit back and enjoy life but if you don't have enough retirement income it can put limits on the things you're able to do. Unfortunately, a lot of people don't start saving for retirement until later in life and, therefore, don't end up with a lot of money to spend in their retirement years. Here are a few tips on some things you can do to make your retirement dollars go a bit further.
1. Review your budget. Write down everything you are spending to what you're spending it on and figure out ways to cut expenses on things you don't really need or enjoy and free up money out to spend on other things that you really want to do. Perhaps instead of going out to the movies you could rent DVDs and spend the money saved on going out to eat. Some little adjustments on what you spend can help you have money for the things that are really important to you.
2. Review your investments. Take a look at your retirement investments to see if you really getting the most out of them. You can invest your money in stock market bonds, distribution bonds venture capital trusts or simply put it in savings but a few extra interest points can give you extra spending money so you want to really look at how you have your money invested.
3. Save a little bit. Even if your retirement income is limited, you might consider putting a little bit away for savings each week. This will give you a little bit of a nest egg in case something comes up. That way you won't have to short yourself in a weekly spending if a big expense arises.
4. Review where you take your distributions. With retirement savings, the age at which you take your distributions can make a big difference. You might consider using Social Security money before you into your taxable investments. You want to make sure you're taking your distributions in a way that lessens your tax fees. This means more money in your pocket.
5. Review your insurance. Increasing the deductibles and your insurance can save you up to 20% of the premiums and that's money that you can spend on the things that you enjoy.
6. Keep contributing. If you're still working full time or even part-time during your retirement make sure you take advantage of the company retirement plan by contributing as much as you can. This way you will be stashing away pretax dollars which will also help lessen your tax burden each pay period.
7. Seek professional help. While you might not what to spend the money on the tax advisor it may be money well spent if they can save you money each week. Consider seeking the help of a professional to make sure that you are funding your retirement the best way possible for you as it relates to taxes.
Looking at the retirement income should not take up all your time, but it is something you want to pay attention to as it can be a delicate balancing act between making sure you have enough for the years you going to live but also that you can enjoy those years by spending on the things that you like to do. Hopefully these tips will help you be able to have a bit more fun during your retirement years! | 
