3 Expenses That May Go Down in Retirement -- and 1 That's Almost Guaranteed to Go Up
The tricky thing about saving for retirement is not knowing how much it'll cost to sustain a comfortable lifestyle in the future. This especially holds true if retirement is still several decades away. But while you can't necessarily nail down a precise budget for retirement, you can do your best to estimate what your living costs will look like.
Now as a general rule, you should plan on needing at least 80% of your pre-retirement income to cover your bills once you stop working. That 80% can come from a variety of sources, from retirement savings to Social Security, but if you think you can get away with replacing your former income at a lower percentage, you may be in for an unpleasant surprise. Although certain costs of yours might go down in retirement, they may not be enough to compensate for what could be the one expense that really throws your senior self for a loop: healthcare.
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Source: Fool.com
