Unlike golf, there are no mulligans when preparing for retirement. Accurately calculating your retirement expenses is one essential part of the formula. Unfortunately, over 50 percent of Americans underestimate the expenses they’ll have in retirement.1
Here are six of the most common big-ticket items that many individuals often overlook when it comes to creating a retirement strategy.
As your retirement day approaches, revisiting your spending assumptions may be one of the most important steps you can take in assessing your retirement preparation.
1. Journal of Accountancy, November 2015
2. Voya Financial, 2018
3. U.S Department of Health & Human Services, 2018
4. U.S Department of Health & Human Services, 2018
5. Lincoln Financial Group, 2018
6. Keep in mind this article is not a replacement for real-life advice, so make sure to consult your tax, legal and accounting professionals before modifying your tax strategy.