Step 1: Write Down Your Monthly Income
The first step is to figure out exactly how much money is coming in each month. For many seniors, this might include:
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Social Security checks
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Pension payments
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Retirement account withdrawals
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Part-time work or side income
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Any rental or investment income
For example, let’s say you bring in $2,500 a month between Social Security and a small pension. That’s your starting point.
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