I have $1,400 in extra retirement income at the end of each month. How can I use it wisely without losing my stride?

Core Insights - Many individuals aim to retire with more than just the minimum required income, seeking to enjoy their retirement years with financial comfort [1] - An additional $1,400 per month translates to $16,800 annually, which is approximately one-third of the median household income of $54,710 for those aged 65 and over [2] Group 1: Charitable Giving - Charitable giving is a priority for many seniors, with 78% of pre-retirees and retirees aged 50 to 80 indicating a commitment to donating [3] - Financial advisors can assist in exploring tax-efficient strategies for charitable donations, as 21% of retirees are unaware of tax-advantaged methods [4] Group 2: Investment for Future Generations - Investing extra retirement funds for children or grandchildren can help secure their financial future [5] - The cost of a four-year college degree is projected to reach $230,176 by the 2035-2036 academic year, making 529 plans a viable option for funding education [6] - Supporting children during their expensive child-rearing years can alleviate financial burdens, with average daycare costs reported at $827 per week for a nanny and $343 per week for a center [7]