Ep 94: 5 Expenses Typically Missed in Planning for Retirement

<p class="MsoNoSpacing"><span style= "font-size: 14.0pt; font-family: 'Arial',sans-serif; mso-bidi-font-style: italic;"> Whenever we first start talking to someone about what they’re going to need for retirement, we usually hear some of the same answers. They’ll name some of the basics like mortgage and utilities and then run through the fun stuff like travel and hobbies. But too often, there are five expenses that people typically miss when planning for their retirement, and that’s what we’re going to talk about today.</span></p> <p class="MsoNoSpacing"> </p> <p class="MsoNoSpacing"><strong><span style= "font-size: 14.0pt; font-family: 'Arial',sans-serif; mso-bidi-font-style: italic;"> Here’s more of what you’ll learn on this episode: </span></strong></p> <ul> <li class="BodyA"><span style= "font-size: 14.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-fareast-font-family: Arial;"> Healthcare expenses in retirement could top $350,000 <span style= "mso-spacerun: yes;"> </span><strong>(2:25)</strong></span></li> <li class="BodyA"><span style= "font-size: 14.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-fareast-font-family: Arial;"> Using the analogy of a housing project to show how estimates can be incomplete. <strong>(5:54)</strong></span></li> <li class="MsoNoSpacing"><span style= "font-size: 14.0pt; font-family: 'Arial',sans-serif; mso-bidi-font-style: italic;"> The first expense people typically overlook is medical expenses. <strong>(12:10)</strong></span></li> <li class="BodyA"><span style= "font-size: 14.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-fareast-font-family: Arial;"> The types of unexpected travel expenses you need to plan for. <span style= "mso-spacerun: yes;"> </span><strong>(17:08)</strong></span></li> <li class="BodyA"><span style= "font-size: 14.0pt; line-height: 107%; font-family: 'Arial',sans-serif; mso-fareast-font-family: Arial;"> We think about parents needing assistance, but your children might as well. <strong>(18:53)</strong></span></li> <li