The Biggest Financial Change You'll Face in Retirement

The biggest financial change you'll face when you retire is the fact that your paycheck stops. Unfortunately, your expenses -- other than those associated with working -- don't go away just because you retire, and you'll likely face higher healthcare costs as well. Dealing with that reality requires you to take a completely different mindset with your money as you transition into retirement.

As a retiree, you'll be depending on some combination of Social Security, any pension you might receive, and your investments to cover your costs of living. To make sure your money is really there to cover your costs when you need it, you need to balance your needs for cash today with your long-term needs for inflation-adjusted cash in the future.

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Source: Fool.com