There are a few things you can do to live comfortably in retirement. First, you can practice living on less. Put more of your monthly income into savings while you’re working so that you will know what it is like to live on less when you are retired and do not have a steady salary. Something else you can do is to maximize social security. Try not to collect your benefits until you are 70. If you wait to retire, your annual benefits will increase 8% for every year after your full retirement age. Another strategy to try is to reduce your taxes by having a lower income. You can also try a reverse mortgage, purchase an annuity, or downsize or move to another country with a lower cost of living.
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