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Emotional and Practical Survival

What if I'm worried about running out of money?

Short answer

Make a simple list: what money comes in each month (Social Security, pension, any work), what goes out (mortgage, utilities, groceries, insurance). If expenses exceed income, identify which expenses can be reduced or eliminated. Do not make large financial decisions — investments…

What this usually means

Make a simple list: what money comes in each month (Social Security, pension, any work), what goes out (mortgage, utilities, groceries, insurance). If expenses exceed income, identify which expenses can be reduced or eliminated. Do not make large financial decisions — investments, annuities, life insurance purchases — until you are emotionally stable and have independent advice.

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