Could you have predicted all your current expenses 30 years ago?<\/p>\n
Trending Now: I Retired a Millionaire \u2014 The Best $30,000 I Ever Spent Preparing for Retirement<\/a><\/p>\n Read Next: 5 Clever Ways Retirees Are Earning Up To $1K per Month From Home<\/a><\/p>\n Predicting future retirement<\/a> expenses gets harder as you try to plan decades into the future. These experts find their retired clients<\/a> often forget the following expenses before punching out for the last time.<\/p>\n Work doesn\u2019t just pay you income \u2014 it also keeps you busy. But when you retire, you suddenly find yourself looking for entertainment all day, every day.<\/p>\n \u201cEarly in retirement, you\u2019re more likely to be healthy and energetic with items to check off your bucket list,\u201d notes Tom Mathews, author of How Money Works<\/a>. \u201cTaking European vacations or golfing five days a week can quickly eat away at your budget<\/a>.\u201d<\/p>\n Travel doesn\u2019t end with planned vacations, either. You may need to jump on a plane at a moment\u2019s notice to visit a family member with a health emergency.<\/p>\n Be Aware: Here\u2019s What Retirees Wasted the Most Money On in 2025 \u2014 and How To Avoid It in 2026<\/a><\/p>\n Likewise, retirees often want to help their children or grandchildren out financially. That could include health crises, college costs, help with a down payment and beyond.<\/p>\n Financial advisor Steve Sexton of the Sexton Advisory Group<\/a> sees this all the time with his retired clients.<\/p>\n \u201cMany of my clients provide more help than they anticipated, but generosity without guardrails jeopardizes their long-term security,\u201d he said.<\/p>\n Too many retirees assume that because they\u2019ve paid off their mortgage, they don\u2019t have to worry about rising housing costs.<\/p>\n Property taxes and homeowners insurance<\/a> will both rise every year, often faster than inflation. And that says nothing of maintenance and repairs.<\/p>\n \u201cHomeowners should set aside 1% to 3% of their home\u2019s value annually for upkeep, yet very few retirees actually do,\u201d according to Sexton.<\/p>\n The same forgetfulness applies to cars: Just because you paid it off, doesn\u2019t mean it\u2019s cost-free.<\/p>\n Cars become more expensive to maintain as they age, not less. Finance and debt attorney Leslie Tayne<\/a> sees her retired clients get into trouble underestimating car costs.<\/p>\n \u201cRepairs are often expensive and time-sensitive, often forcing retirees to choose between tapping savings or borrowing debt,\u201d Tayne explained.<\/p>\n Think Medicare covers every medical expense in retirement? Think again.<\/p>\n \u201cHealthcare costs such as dental, vision, hearing, long-term care and out-of-pocket prescriptions make some of the biggest surprises<\/a> for my retired clients,\u201d notes financial planner Beth Stenz with Edward Jones<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Could you have predicted all your current expenses 30 years ago? Trending Now: I Retired a Millionaire \u2014…\n","protected":false},"author":2,"featured_media":214604,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[28,147,530,1666,156],"class_list":["post-526245","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-personal-finance","tag-personalfinance","tag-retirement","tag-steve-sexton"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/526245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=526245"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/526245\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/214604"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=526245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=526245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=526245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}