When you have no extra cash to save for that next rainy day
How Can a Retired Couple Replenish an Emergency Fund While Living Paycheck to Paycheck?
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What's a retired couple to do when they're living paycheck to paycheck? Is there a way to replenish their emergency fund? This question was submitted to "Ask The Dollar Stretcher."
Being a boomer, I love reading your suggestions for our particular generation. Especially finances. We're living basically "paycheck to paycheck." We're retired on Social Security, (my pension - not much). Have cut expenses, trying to be frugal, etc. Question: how can we save money monthly to put back in our emergency fund? We've spent a lot from it for taxes (more coming soon), some day to day paying bills, etc. I hate to see it falling so quickly and not being able to put it back!! Any suggestions?
Thanks so much!
Dollar Stretcher editor, Gary Foreman, a former financial planner provides some options for this retired couple.
Take the Next Step:
- If you can't further cut expenses, perhaps consider one of these part-time jobs for retirees.
- Or consider these other ways you can make some extra cash.
- Subscribe to After 50 Finances. You've learned how to work smarter, not harder. This weekly newsletter is dedicated to people just like you. Subscribers get a FREE copy of our After 50 Finances Pre-Retirement Checklist, a list of everything you need to do to be ready for retirement.
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