To stretch your income during retirement, you could:
A. skip leisure activities.
B. cut your food expenditures.
C. cancel your life and property insurance.
D. use your skills and time instead of your money.
I think its A..
I think D
Absolutely not! One should enjoy retirement.
To determine the correct answer, let's evaluate each option:
A. Skip leisure activities: While this may help reduce expenses, completely eliminating leisure activities may not be necessary or desirable for everyone. It is a personal decision based on individual priorities and circumstances.
B. Cut your food expenditures: Reducing food expenditures can be a viable option to stretch your income. It may involve shopping smartly, utilizing sales and discounts, meal planning, and perhaps exploring affordable yet nutritious food options.
C. Cancel your life and property insurance: Canceling life and property insurance might provide short-term relief in terms of premium payments, but it could potentially leave you financially vulnerable in the long run. Life insurance provides protection to dependents, and property insurance safeguards against unexpected damages or losses.
D. Use your skills and time instead of your money: This option suggests utilizing your skills and time to accomplish tasks instead of spending money on services. For example, instead of hiring someone for home repairs, you can learn how to do it yourself or trade skills with others, reducing the need for professional services.
Considering these options, skipping leisure activities (option A) may be a valid strategy, but it's important to note that option D - using your skills and time instead of your money - can also provide opportunities for saving and stretching your income during retirement.
Overall, the correct answer may depend on personal circumstances, priorities, and preferences. It is important to evaluate each option and make choices based on individual financial goals and limitations.