Fixed Income Living

You might have heard the term fixed income living – but what is it and who lives on the fixed income? It is a term that is also associated with investing – but it is a totally different thing.

Whether you are about to live on a fixed income, or you are already living on the fixed income – this article is for you.


In this article, I will show you exactly what fixed income living is, teach you more about it, but also give you a couple of tips for living on a fixed income.

I have been living on a fixed income and as you can see, this whole website is dedicated to helping people who live on a fixed income – so keep on reading!

What is Fixed Income?

If you Google fixed income, you might come across the type of investment security that pay investors a fixed interest.

However, that’s not exactly what life on a fixed income means.

Fixed income is a type of income that is fixed and rarely changes from month to month. But it is a regular income payment that you can always count on.

So, you are probably wondering, what are some of the fixed income types?

Here is the example and once you check out a couple of them – you will definitely get a clear idea.

  • Social security income
  • Disability income
  • Retirement income

Even though there are many other fixed-income types such as bonds or stocks – we are talking about the income types that is often the only (primary) income type for most people.

There are a couple of more categories, but these three are the most common ones.

And since the fixed income, in this case, is often a single income source – it can often give people a hard time living.

However, it is not always that bad – so keep on reading to learn more about life on a fixed income.

Is Fixed Income Always a Bad Thing?

Fixed income is not always a bad thing. However, it is oftentimes a bad thing for people who end up having it as a single stream of income.

This applies to people who have retired or people who are unable to find work due to disability or health problems.

Another reason why fixed income can be a bad thing is monetary inflation. Most times, fixed income cannot keep up with inflation and while the financial situation might not seem so bad right now – it could look totally different in the next decade.

On the other hand, you have a very secure check at the end of the month (or every other week) which is sometimes a lot better than having an uncertain stream of income.

But life on a fixed income is not always that great for people who have it as a primary source of income and are unable to keep working.

And in this article, I will not only show you the good and the bad of fixed income living – but I will help you with a couple of tips and even a way to start working on the second income stream!

Why is Living on a Fixed Income Hard?

Living on a fixed income can be hard for a couple of reasons.

Here are the most common problems:

  • Monetary inflation
  • A single stream of income
  • Inability to cover living expenses
  • Inability to keep working

And if you are already living on a fixed income – you would understand these issues, and you could probably add a couple more of them.

However, if you are about to start living on the fixed income – you should not be scared. Not everyone’s financial situation is the same.

That is why you should evaluate your financial situation, list down all of your expenses, and briefly calculate the approximate fixed income you will be getting each month.

Yet with so many different financial situations, I was able to notice that the most common reason for living difficulties on the fixed income is the expenses.

In most cases, fixed income hardly covers all of the expenses, and yet in some rare cases, it is not enough at all to cover all of the expenses.

That is how I got started with the mission and Living on Lean Means, to help others improve their financial situation, get financial education, and create a second stream of income right from home!

How to Improve the Financial Situation When Living on Fixed Income

There are a couple of things you can immediately do to try and ease the financial pressure as you start living on the fixed income.

These things include:

  • Using cash instead of cards when shopping
  • Creating a strict budget
  • Cutting down expenses
  • Learning how to cut out debt efficiently
  • Creating a second stream of income

You have always heard someone say – if only I had a bit more money.

With a fixed income and a bit more money – you would-be right-on track without any big issues, right?

That is why I highly recommend everyone who lives on a fixed income to start a second stream of income. But what if you cannot work?

There are many ways to do so, on the internet, right from your home, using only your laptop and internet connection.

These are a couple of examples:

  • Freelance a skill online
  • Create an online store (either make or dropship products)
  • Start an online business

I chose to go with the last one – starting an online business after I have started learning everything there is about affiliate marketing on an educational platform called the Wealthy Affiliate.

It is an educational platform where you get structured training that helps you learn and implement everything you have learned to create an online business from scratch, starting with only on the website.

The best thing is that Wealthy Affiliate is free to join and you can be a free (starter) member for as long as you wish – so I highly recommend you check it out!


All you need is an internet connection, laptop, and some time – which is something most of us do have.

Giving up on a couple of things while learning something new and acting is the best way to move forward.

Remember, the financial situation is not set in stone and it can quickly change in a matter of months.

Are you ready to act today? What is your biggest problem with fixed income living?

Feel free to leave a comment or question down below, and I will do my best to help you out!

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