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TDLR: full retirement in 2032. Estimate $128k/annual income with pension and 2 SS. Estimated annual expenses $100-105k (in 2026 costs). Estimate 1.5M in retirement accounts. Trying to figure out how t...
So I’ve started shopping around for retirement financial planners and met with my second potential one this past week! Granted I’m new to how all of this retirement planning works lol, but one thing t...
You might think locking in a rate saves you money, but financial flexibility is the real secret to keeping cash in your pocket for these bills.
Significant expenses, such as payroll taxes, often disappear the day you retire, so you probably won't need to replace as much of your salary as you thought.
Households often have assets they expect to use during retirement that are not level streams of income, as well as expenses that are not expected to recur every year. These items need special handling...
Do you pay your bills and other expenses using a credit card for the rewards and / mileage? Thinking about implementing this and wondering how many people do it and is it worth it. I know some people ...
Transportation and clothing costs decline, but watch out for new health care costs.
Are you aware of just how much investing is costing you? Explore all the fees associated with your mutual funds and ETFs. The post Fees and Expenses on Mutual Funds and ETFs: A Complete Guide to the O...
The typical retiree household will spend an amount equivalent to 10% of annual income on unexpected expenses, and about 40% lack the cash to cover those costs.
In this episode, we tackle Richard's question about why it might make sense to use IRA (non-Roth) accounts first to pay for long-term care expenses. We'll explain the reasoning behind this strategy, i...
FROM THE ARTICLE. Don’t let rising expenses derail your plans. By Sharon Wu, AARP. Published October 09, 2025. Key takeaways! [*] Budget for out-of-pocket health care costs and consider a dedica...
Audit your spending to uncover patterns, cut waste, and align expenses with goals. Small adjustments will boost financial confidence. The post Audit Your Spending: Go Beyond Budgeting with 5 Ways to R...
as i am estimating my retirement budget, trying to figure out if i'll have enough to live on given how much i think i'll spend, how long i'll live, etc., i have been using these basic calculations: *T...
At How Much Can I Afford to Spend in Retirement? we encourage retired households to periodically compare the present value of their retirement assets with the present value of their spending liabiliti...
Average 401(k) fund fees and administrative expenses are, in some cases, shockingly high. But don't be misled by gloomy headlines. Here's the skinny....
Hi folks. 59YO here. About 2.5 years put from retirement. Hoping to maintain the same lifestyle post-retirement as we have now. To estimate our expenses post-retirement, can we just take our current t...
Everyday costs like groceries, gas, and subscriptions can quietly drain hundreds each month. This gallery breaks down 14 common expenses, supported by consumer spending data from reputable sources, so...
Whether you're eligible for Medicare or getting coverage through the Affordable Care Act, make sure you plan for premiums, deductibles and other out-of-pocket costs....
Retiring early isn’t just about saving more, it’s about planning for the retirement expenses most people forget. Many think they’ve nailed the numbers, but it’s the overlooked ...
Please share any truly unexpected expenses you faced in retirement. I'm coming out before Medicare (but after age 60) and have the health insurance piece worked out. Someone mentioned to me however th...
You might not notice it at first, but over time, silent expenses chip away at your wealth until your money’s slipping out faster than it comes in. These quiet costs often hide in habits that fee...
I looked at a reasonably priced house in Silver City, New Mexico. The property taxes were listed at $6000/year. I'm paying approximately $1200/year (in California). Can the other expenses be low enoug...
One of the basic tenets of the Actuarial Approach recommended in this website is to fund the present value of expected essential expenses in retirement with non-risky assets/investments like: Social S...
Some people are broke because they don’t earn enough. Others stay broke because they keep spending like they’re trying to prove something. One choice at a time, they dig the hole deeper, a...
Understanding variable expenses and fixed expenses can help you create a successful budget. Learn the difference and how to manage your variable expenses....
Retirement should be about freedom, not watching money drain away on things that don’t matter. The truth is, small, unnecessary expenses add up fast. Smart retirees know that keeping more cash i...
Saving money isn’t complicated. People just make it that way. You don’t need another budgeting hack, a fancy app, or a financial guru telling you to “cut back on coffee.” What ...
Money isn’t disappearing, it’s leaking. It’s not the big expenses that ruin budgets, but the small, ignored costs that sneak in and pile up. The problem isn’t earning too littl...
Root Collective member Gary asks how to fund a $40K home remodel before retiring—should he use a taxable brokerage account, tax-deferred 401(k), Roth IRA, or cash? Ari and I break down how to ha...
Retirement was supposed to be the reward after decades of hard work. More time with family, less stress, and finally enjoying life without punching a clock. Instead, rising costs are making it harder ...
Anyone have a good framework for a living agreement? My GF and I are empty nesters, and have been living together for about a year in my place. Her condo just sold, and we'll be living here until I re...
In this episode, we tackle Richard’s question about why it might make sense to use IRA (non-Roth) accounts first to pay for long-term care expenses. We’ll explain the reasoning behind this...
Health care and inflation are among the factors that can derail retirement budgets....
I am getting close to pulling the pin, but my house was built in 1994 and it’s showing its age. It needs new windows, a new garage roof, a new furnace and a roof. And to top it off, we have a ca...
Exam preparation often involves securing textbooks and study materials, and making a time and effort commitment. But it’s important not to see this as just a cost - but rather as a strategic inv...
Being financially independent means having enough passive income to cover your essential or desired living expenses. A common guideline is to aim for a net worth equal to 25 times your annual expenses...
The most effective way to save for retirement is through a workplace-based retirement plan, but many workers lack access to one. To help close this gap, a number of states have adopted programs that r...
The earlier you start planning, the more control you have over your future, empowering you to make informed decisions and feel more secure....
This post is a follow-up to our post of April 16, 2022 regarding planning for non-recurring expenses in retirement, with emphasis in this post on long-term care costs. We also build on the example dis...
Paul and Sandra McCrossan live on such high ground in Toronto that their neighborhood is a popular rest stop for migrating birds. But sodden ground affected their aerie when the city experienced its h...
It's likely that most of us will need some kind of long-term care as we age, so it'd be a good idea to start planning for those expenses now....
I'm 60M, two kids still in high school, just bought a house to ride out the high school (and college? dunno) years. I have good income and decent-not-great retirement accounts for my age. My kids also...
The Internet is awash with talk of money-saving tips. Myriad savings guides, articles, and booklets on how to keep more of your own money adorn the World Wide Web. Truthfully, most of us gloss over th...
How much do retirees really spend in retirement? Does the Social Security Primary Insurance Amount (PIA) continue to rise with inflation? Is all the talk about higher future tax brackets just fear-mon...
Should 70-year-old Bob live off of capital gains and dividends from his mutual funds plus Social Security, or should he sell poor-performing mutual funds for living expenses and reinvest the cap gains...
Photo credit: coop It’s a little known fact that certain costs for caregivers, licensed or unlicensed, may qualify as medical expenses for tax deductions. Maintenance and personal care service c...
As I'm beginning to plan for retirement, I've read plenty of articles and used several calculators to determine what we'll need as the magic number to retire. Here's the thing though, they're ALL base...
With cash flow running tight, I've embarked on a mission to trim unnecessary expenses from my budget. In times of surplus cash before my home purchase, I hadn't scrutinized my expenses for years. It's...
How much does it cost to raise a child? According to the USDA, it costs on average $310,000 USD (adjusted for inflation) to raise a child from birth to the age of 17. That’s $18,235 per year or ...
I am pulling the retirement trigger in 12 months. I’ve planned for expected expenses and I have an emergency fund for unexpected expenses. But what kind of things am I likely to run into? Unexpe...