The Scenario
How do you manage living on a fixed income?
Sam Savings Sam

Savings Sam
"Before retirement I invested money in the stock market. Lately these returns have almost disappeared, so I need to be very careful with my money."
Bonnie Balanced Bonnie

Balanced Bonnie
"I track all of my expenses to make sure I know I am not living outside of my means. I have a retirement fund saved,
but I don't want to go through
it too quickly."
Ian Impulsive Ian

Impulsive Ian
"I moved in with my son to save money. There are still expenses I did not expect."

Part I

As an older adult, you may find yourself living on a fixed or reduced income from what you have been accustomed to in the past. With inflation, the price of food, gasoline, clothing, medical services, and prescription medications increases.

Fixed Income

As a result, buying power decreases almost monthly, making living on a fixed income an even greater challenge. For some, it can mean the difference between buying groceries and buying medication. Setting guidelines and being smart about your buying habits can give you more control over your money and help to control the impact of inflation.

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