Many Americans look forward to retirement. It’s a time to either relax or pursue your dreams. Regardless of your goals for retirement, funding the process is no simple task. Nobody knows just how long their life will last nor the future cost of living. Maintaining a balanced cost of living is the simplest way to make retirement projections much simpler and more accurate. Fortunately there are ways to reduce the financial risks of retirement while still enjoying yourself.

An easy way to gain a little extra spending money during retirement is finding a part-time job. It doesn’t necessarily have to earn a lot of money (that’s what you just spent 40 years doing!); just find something you enjoy doing. Apply for a job as a tour guide at a historic landmark or even pursue a position teaching at a community college. In addition to the extra money, employment can keep your mind stimulated and body in shape.

Moving somewhere with a lower cost of living is another easy way to save money in retirement. Homes in Tennessee, North and South Carolina, Florida, and Arizona are especially cheap. The money you can save by relocating can end up being important in the long run. Downsizing houses can also save a lot of money. As you age, walking long distances around the house becomes hard work. So if you can save money on your mortgage and save your knees at the same time, why not downsize your home?

Bonds and stocks can also be an important source of funds once you retire. While trends in the stock market are difficult to predict, they can also add up to a lot of money. There are free, online questionnaires you can fill out that will recommend a combination of stocks, bonds, and cash suitable for your retirement plan. At LWM this is part of our Discovery process and we leverage technology to make this a seamless process online for a paperless experience. If you’re fearful of a stock-market crash, then a large bond-to-stock-ratio is a good idea. However, if you’re looking for a large potential profit, and don’t mind risk, invest more in the stock market than the bond industry.

Whether you plan on working part-time in retirement or not, there are plenty of options to expand your financial future in your golden years.