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Read Next: 9 Things To Downsize in Retirement That Aren’t Your Home. Homeownership. If you own a home, that can be another source of major expenses that eat into retirement funds. “As homes ...
Lower expenses. Many retirees are tempted to spend more money on leisure activities in retirement.Health care costs also tend to increase as people age. But there are many costs that decline in ...
Fidelity estimates a 65-year-old couple today will need at least $330,000 to cover medical expenses in retirement. Without a plan, these expenses will eat away at your savings before you even ...
Relying heavily on retirement funds for long term care may mean you have quite a bit less for other expenses. Consider a separate long-term care insurance policy or a HSA for medical expenses ...
If you expect your income to decrease after you retire, then consider investing in a tax-deferred retirement account, like an IRA or 401(k). You can fund your account with pre-tax dollars and pay ...
Work-related expenses like buying professional clothes or daily work meals decrease too.” ... on Social Security to fund your retirement, the good news is that many of your expenses will go down ...
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