Inflation jumped 7.9% in February. That may have retirees on a fixed income concerned about getting by or running out of savings during their golden years.
When food shopping, it may mean buying less red meat and more chicken, or going to a farmer's market for produce instead of the grocery store. Using coupons and comparison shopping can also help you save money.The best thing a retiree can do to protect their income from inflation is delay claiming Social Security, which will, in essence, buy more Social Security income, Finke said.
To focus on longevity so that you can sustain your financial independence in retirement, consider dividend-paying stocks, growth stocks and real estate, Cheng said.
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