A. Here are 5 comon unexpected higher expenses for most retirees, see if you have considered all of them in your retirement budgeting -
1. Entertainment Expenses
Many retirees are surprised to find out how much their actual entertainment expenses go up when they stopped working.
2. Healthcare Expenses
Most people expect Medicare to cover all of the healthcare costs, it will not!
3. Home Related Expenses
Even you downsize, you will find moving expenses or custom home improvement costs are a lot higher than you thought.
4. Family Support Expenses
Many retirees still support their adult children financially.
5. Longevity Expenses
Many retirees fail to budget for the scenario that they could live much longer than they thought, and it's very dangerous to run out of money when you are still alive!