Make Money Last: Rightsizing for Retirement

One of the most important questions to ask before you retire is what your future income will be. Take into consideration any Social Security, pensions, annuities, or savings withdrawals.

This realistic number is what you need to start with to determine what “rightsizing” means for you. Then, after looking at your expenses, you can decide whether you need to downsize immediately or continue working for a little longer.

If you do choose to retire or are forced to retire, you have two options: overspend or rightsize your life immediately by downsizing.

While “rightsizing” can be challenging emotionally, it’s important to realize that it’s something nearly everybody goes through. All retirees must initially struggle with money decisions. Once the process is done, however, you gain peace of mind and can move on to enjoying the benefits of retirement, such as the ability to take up new hobbies or make new friends.

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About cozbycpa

Heather L. Cozby is a CPA on the South Shore and Cape Cod. The managing partner of Cozby & Company, LLC, Heather has the resources and experience necessary to provide quality professional services on a timely basis and at a reasonable cost. She specializes in tax planning & preparation; audit, review & compilation services; management advisory services; bookkeeping; and accounting. Her unique niche is in working with homeowners’ associations and condominium trusts, advising with rental real estate, and providing outsourced financial consulting for mid-sized companies. She is more entrepreneurial than most accountants, and offers the best of both worlds - providing the services of a larger firm while retaining the ability to connect with her clients on a personal level.
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