Print Page   |   Contact Us   |   Sign In   |   Register
How much will you spend?

No one can determine whether or not they can afford to retire, unless they first know what they spend.

It is critical to gain insight on what life costs leading up to the transition to retirement. In mapping spending, factor in increased costs for health care (including Medicare Part B and Medigap premiums), costs of Long Term Care and premiums for any life insurance.

Classify expenses in four categories:

1) Basic living expenses: necessities

2) Discretionary spending: makes life more enjoyable

3) Luxury spending: infrequent splurges on special family vacations, gifts, etc.

4) Emergency expenses: difficult to budget—but will appear

Consider adding a 5-10% cushion as a margin of safety.




NOTE: If you are not debt-free, consider working. Retire only when your debt has retired, too!


<NEXT:  Optimize your Retirement Income Streams>

Sign In


My Plan

Join a Group





Where should I save?

 Where should I invest?