Reduce costs and stretch savings to make it through a stock market slump during retirement.
WITH THE CORONAVIRUS pandemic causing fluctuations in the stock market, many people fear an extended economic downturn. It can be especially nerve-wracking if your portfolio valuations are down, or your retirement income is less than you planned for. Follow these financial to-dos to get through a market decline.
Try these ideas for retirees to cut costs and make it through a stock market slump:
Eliminate unnecessary costs.
Adjust the thermostat.
Save on health care.
Exercise for free.
Negotiate with lenders.
Put off projects.
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