How To Make Your Money Last summary

It's important to take care of your health during your retirement. You never know when doctor bills might start to add up, so make sure you have adequate insurance.

If you want to receive the best coverage for the best price, however, you need to understand how health insurance works.

Your regular salary ends when retirement starts. That means it's time to start managing your budget!

Organizing your spending is a core part of retiring well. You can't expect to be rescued by stock market gains or a winning lottery ticket if you burn through your savings early.

It's still possible to receive an income after you've retired, as the US federal program Social Security pays retirement benefits to qualified individuals.

Social Security retirement benefits are the best available retirement plan in the United States. These benefits provide lifelong income which is immune to inflation. Your Social Security payments can also be claimed by your spouse when you pass away.

Traditional pensions aren't popular these days, as most people prefer to collect benefits as a lump sum.

Let's look closer at the differences in pension options.

Receiving a final paycheck is painful. It's especially tough when you don't know when the next check might arrive.

There's another way to receive additional money once you’ve retired, however.

Ask retirees what they wish they had done differently, and most will answer, “I wish I’d saved more money.” But it's never too late to start saving if you use a retirement plan!

Retirement plans are a great option for soon-to-be pensioners.

How much money can you take out each year without running out? That can seem tricky, but the four percent rule can help you.

Financial advisor Bill Bengen came up with the four percent rule 25 years ago, and it's been the golden rule of financial planning ever since.