The 4 Expenses Retirees (Almost Always) Underestimate

Discover the hidden financial traps most retirees don't see coming! In retirement, it's incredibly important to nail down known expenses so you can build an income plan around them. In this video, Peter with Richon Planning and Erin Kennedy break down the four expenses that retirees consistently overlook, including: 

1. Healthcare: Medicare doesn't cover everything! And LTC can wipe out your savings if you don't have insurance

2. Housing: Even if you own your home outright, you'll still have expenses!

3. Taxes: A lot of retirees underestimate what they'll pay in taxes in retirement. We'll still be paying income taxes (in most cases), and a lot of retirees don't know that Social Security is taxed!

4. Travel and Leisure: We want to enjoy our hard-earned retirement, so it needs to be part of your budget!

To avoid surprise expenses in your retirement, create a realistic retirement budget, start saving early, review your budget regularly, and seek professional advice. If you'd like to have that conversation with Peter, please call (919) 300-5886 or visit www.RichonPlanning.com

#Retirement #Expenses #WealthManagement #Budget