16 Money-Management Tips Every Retiree Needs to Memorize

Make a budget

“Not only is this basic advice for all stages of your life, it may also be the most ignored!” warns Mike Zaino, president and CEO of TZG Financial in Charlotte, North Carolina. “You’ve spent your entire working life concentrated on the accumulation phase of building your nest egg. During retirement, the preservation and distribution phase becomes the focal point. You’re living on a fixed income, but your health-care expenses can vary greatly,” You can see why when you check out this explanation of a hospital bill. Mint.com and the mobile Mint app allow users to connect their financial accounts in one place to track and categorize spending, set up reminders to pay bills, make the payments, and check balances.