You did all of the planning you were supposed to so that you could have a relaxing retirement life. You made sure to have a diverse investment portfolio. You cut back spending and budgeted. Now that you are retired you maybe looking at your retirement fund wondering if you actually saved enough money. 

This is the tough thing for seniors who have retired. They can calculate all they want, but there is a chance that they didn’t save enough money. There is a chance of inflation or a health care emergency, which will impact your retirement fun. Or you may have calculated to live to a certain age, but now find yourself living beyond that age.

Fortunately, even in your retired life you can make money. Here are some great ways to add to your retirement fund.


You can still invest money, but make sure not to invest your money all in one place. It is important to not have all your eggs in one basket. You should divide up your money into different investments that you believe will make money.

You can make these investments in buckets. These buckets are the now, soon and later buckets. The investment you need in the now bucket is your immediate monetary need. The investment in the soon bucket is what you will need 10 years from now. The investment in the later bucket is for much further down the road.

Budget Your Spending

Make sure to create a budget for your spending. This will help you understand how and where you are allocating your funds. To make sure you don’t run out of money during retirement, the rule is to withdraw 4% from your nest egg. Then for the following years, you can use inflation to help guide you for your withdrawals. For example, if you have $1 million, you can withdraw $40,000 in year one. If the inflation rate clocks in at 2% in year two, your withdrawal grows by 2%, to $40,800.

The 4% rule isn’t a solution for everyone. You may need to reduce the withdrawal rate based on how much is in your savings and what age your retire.


The inflation rate has been around an average of 2.2% since 2000. This isn’t too bad; however you need to be cautious with your money. The best way to keep up with inflation is to invest your money. Some ways to invest your money to help with inflation is the stock market. If you just started your retirement life, advisers recommend portfolios consisting of 60% stocks.

Social Security Benefits

The longer you delay your social security benefits the better. Claiming social security early can reduce your benefits by 30%. However, most people take their social security benefits as soon as they become eligible. If you are able to wait until 70 years old, you will benefit greatly. Social security is set up to fight inflation. It automatically accounts for the cost of living.


If you are living in an expensive area, it might be a good idea to move. You can sell your home to make money and invest in a home in a less expensive area. This can help you make money from the home you sold. You can then take that money and invest it.

Keep working

Yes, you read right. Keep working, but work part time. Maybe find a consulting position in the field you were in. Or you can change gears and find a job in a sector that you find fun. For example, maybe you are a people person and would love to work retail. This will not only generate income, but it will help keep you active and young. 

Retirement can be hard. Not only do you have to figure out how to keep yourself busy, but you now have to make sure that you have enough money to last. The best thing to do is to make sure that the money you saved for retirement is generating more money. The above tips should help you find ways to earn more throughout your retirement. 


Please enter your comment!
Please enter your name here