When it comes to retirement planning, many experts say that you’ll need 80% of your pre-retirement income to sustain the same lifestyle. Some might recommend saving even more to make sure you’ll have some money left over for travel and leisure activities. Yes, setting these goals can be pretty unsettling; that’s why many retirees decide to keep working past 65 to be sure they have enough money.
Well, we’re here to tell you that everyone has a different lifestyle and different retirement goals. This means that the 80% rule isn’t mandatory for everybody. Also, retirement expenses depend on each individual. While health spendings tend to increase with age, there are others that may decrease, and a few you won’t have to worry about at all.
We know how important it is to create your own retirement plan and because of that, we decided to help you. So, here’s our list of 10 retirement expenses you will no longer have in your golden years.