Planning for retirement can feel like a minefield. However, while most seniors rely on Social Security and savings in their 401(k) accounts for these years, it’s important to not overlook other sources of retirement income.
Many seniors benefit from having income that comes from multiple sources. According to The Motley Fool, there are five sources that you may have not considered.
- Home equity
- Selling a car
- Unused items
- Downsizing a home
The assets that you might take for granted could actually be valuable sources of retirement income. The best way to navigate finances in retirement? Talk to a financial advisor for sound advice.