How much does it cost to retire?
Ashley Temer is a Financial Representative with Northwestern Mutual who helps professionals, families, and business owners plan for financial security. Well the truth is it depends. Theres no one-size-fits-all formula. It is important to start by mapping out your dream retirement. If youre dreaming of vacations or a second home, your expenses may be higher than when you worked. Housing is the biggest expense for most retirees. If you are thinking of relocating, look for cities with a low-cost of living. Health expenses increase steadily with age. It is the second biggest expense for people over 75. Medicare will help, but it does not cover everything. Plan ahead if you want to help your family achieve their own financial goals. The bottom line; it pays to crunch the numbers now so youll be prepared later. Like this: Like Loading...