Before retiring, you might want to try this experiment.

For three months, try to live on your retirement budget just to see how it will work out for you.

While you’re in the midst of this experiment, remember, no cheating. You’ll have to live on exactly the amount of money you will have when you do in fact retire. This can give you a much more accurate idea of life and your financial situation during retirement. It will also provide you a chance to learn to cope with your new spending strategies.

Generally, there should be a lot of questions and a number of things put in place prior to your actual retirement. Steps to take should include estate planning, long-term care planning, asset protection and an update of your will and advance directives. If you recognize that your retirement may not provide you with enough money, and working is no longer an option, you’ll need to start planning for additional assistance, possibly from Medicaid, or if you serve in the armed forces, from Veterans Affairs.

I’ve often said that getting older isn’t for sissies. I can also tell you that entering into the phase of your life called retirement will go a lot more smoothly if you’ve taken time to plan and prepare.

Ron Kauffman is a consultant and expert on issues of geriatrics and aging. He’s in private practice in Henderson and Polk counties. He is the author of Caring for a Loved One with Alzheimer’s Disease, available on Amazon.com and at the Polk County Senior Center. His podcasts can be heard weekly at www.seniorlifestyles.net. Contact him at 828-696-9799 or by email at drron561@gmail.com.