Retirement Life Is More Expensive Than You Think

Source: American Consequences
by Dr. David Eifrig

“It always amazes me when folks vastly underestimate just how much they will spend in retirement. I’m placing an emphasis on ‘vastly’ because it’s not by $10 or so every month. It’s much more… I’m talking potentially hundreds of dollars or more a month. And if you don’t have enough saved, this overspending can ruin the rest of your retirement. I’ve seen it too many times where new retirees burn through a good chunk of their nest egg in just a few years. It puts so much more stress on your golden years — when you should be enjoying them. Even the best budgeters and Excel sheet wizards fail to estimate the true cost of retirement, especially in the first few years after leaving the workforce.” (07/07/21)