02/11/2015 12:34 pm ET Updated Feb 11, 2015

10 Ways To Live Frugally In Retirement

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More than half of people in the USA with significant savings fear going broke in retirement, a recent survey showed, but there are ways to live frugally to try to keep that from happening.

The first step is to create a budget and then get serious about where you can trim, financial experts say. "I am a firm believer in written financial plans, not back-of-the-envelope plans," says Ray Ferrara, a financial planner in Clearwater, Fla. Within your plan, you should have a budget and an investment strategy that meets your tolerance for risk, he says.

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