It is essential to save money for when you stop working, but there are other ways you can boost the amount of money you have during your retirement years.

Question

What strategy can you use to increase the amount of money you have during retirement?
Choose 1 answer:
Choose 1 answer:
(Choice A) downsize to a smaller home to decrease your expenses
A
downsize to a smaller home to decrease your expenses
(Choice B) invest your Social security payments in high-risk stocks to maximize your returns
B
invest your Social security payments in high-risk stocks to maximize your returns
(Choice C) retire as early as possible
C
retire as early as possible

Answer 1

(Choice A) downsize to a smaller home to decrease your expenses

By downsizing to a smaller home, you can decrease your expenses, including mortgage payments, utilities, and property taxes. This will free up more money that can be saved or used for other expenses during retirement. Additionally, downsizing can also potentially allow you to cash in on any equity you have in your current home and use it towards your retirement savings.