According to the American Bureau of Labor statistics, it was stated that average American spends more than 20 years of lifetime after retirement. So it is essential to stay comfortable during the retirement period to lead a happy and healthy life.
Few essential tips that help in saving money after the retirement are shown in the infographic:
Start savings early in the banks as they offer you high rate of interest.
Look for various IRA's (Individual Retirement Arrangement) available in the country and choose a perfect IRA that helps you out in the old age.
Make efficient use of the retirement savings plan associated to your company.
Try to manage all your risks, because it is not possible to recover from huge losses with the time that you have.
Try to re-balance your portfolio on regular basis as your investments will shift very often.
By following the above mentioned tips, plan prior to save money and lead a happy life after retirement.