6. Insurance
When you calculate your retirement expenses, you may want to know that you’ll pay less money on insurance (except for health coverage). Workers typically apply for life insurance to protect their children and spouse in the event that the worker passes away leaving dependent loved ones without financial support.
Similarly, disability insurance is meant to provide partial income in case the policyholder becomes injured or ill and unable to work.
However, if you’re retiring, you’ll most probably want to live off of your investments, Social Security benefits and savings. In other words, if you’re financially OK to retire, you probably won’t need income protection insurance any longer.
To clarify, here are some numbers you may want to look at: while the average working household pays $8,100 per year on insurance, including life insurance, annuities and other personal insurance plans, the average retired household spends only $2,840 a year.
2 thoughts on “10 Retirement Expenses You Don’t Have To Worry About”
With the foo\ssil Biden in the white house you would be a fool to drink the koolaid and believe that any left coast city is a good place to retire. The only sane place to retire is florida under the competent leadership of ron desantis
none of these were new or useful as i have learned to live with retirement and how to save on most every thing.