Overall, if you have a low-savings retirement, it’s important to carefully assess your income streams, plan for maximizing your Social Security benefits and portfolio income, manage your spending and taxes, and potentially consider relocating to a more affordable area. By working with a financial advisor and implementing these strategies, you can make sure that you have a comfortable retirement despite having limited savings. Remember to also keep an emergency fund on hand for unexpected expenses and consider ways to save money to make your retirement years even more generous.
