Do the math. Estimate how many years you have left to live and divide your savings by that number. (“Most people should assume they will live to at least 95.”) If your savings, pension, and Social Security benefits will not cover your expected annual expenses, you need to “make adjustments.”
Spend less sooner. Cutting back can be hard—if you do it all at once. Instead, ease into a more frugal lifestyle starting a few years before your planned retirement date.
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