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How Not to Get Blindsided by Costs in Retirement

September 15, 2016

money 24 600x450You don’t have to be a psychic to forecast much of your spending in retirement. Your housing, your utilities, your dinners out—the monthly costs for these will rarely surprise you.

Not everything, though, can be budgeted so easily. You can safely assume, for example, that you’ll have health care expenses—Fidelity estimates they will average $245,000 for a couple in retirement—but you can’t know ahead of time when those bills will pop up or what each will amount to. You’re planning to attend your grandchildren’s weddings, but you don’t know yet whether the nuptials will take place across town or in another hemisphere.

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