CFP® Reveals: The 5 BIGGEST Expenses in Retirement

Typically when people retire they think their expenses will increase mainly on travel and entertainment costs; however, people are spending most of their money in retirement on five things and travel is only one of them.

Join Julia Lembcke, CERTIFIED FINANCIAL PLANNER™ and Managing Director of URS Advisory, as she goes over the top five expenses you can expect to encounter in retirement.

0:00 - Introduction
1:00 - Discussion on sustainable retirement budget and expenses
2:00 - Information on Medicare and healthcare costs
3:00 - Strategies to manage healthcare costs in retirement
4:00 - Health savings account benefits and strategies
5:00 - Number two biggest expense in retirement: taxes
6:00 - Discussion on tax planning and retirement accounts
7:00 - Strategies for managing taxes and investment in retirement
8:00 - Number three biggest expense in retirement: travel
9:00 - Planning for travel expenses in retirement
10:00 - Number four biggest expense: home maintenance
11:00 - Supporting children and grandchildren in retirement
12:00 - Conclusion and final thoughts

If you're interested in retirement travel, or just travel in general, you must follow our dear clients, John and Bev, of The Retirement Travelers! They are the #1 retirement travel resource on YouTube! Here is my personal favorite video:

Check out my videos related to the 5 Biggest Expenses in Retirement:

Opinions expressed herein are solely those of URS Advisory. All written content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Material presented is believed to be from reliable sources; however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your financial adviser or qualified professional before making any financial decisions.

#FinancialPlanning #WealthManagement #RetirementPlanning #InvestmentStrategy #FinancialFreedom #retirementsavings #retirementtravel #medicare #healthcareinretirement #taxplanning

[BuzzRetirementGarage]

I need you in my life. Subscribed! Buzz

[RetirementTravelers]

Great video. Very informative for us retirees. Your channel is awesome. We do find that our “travel” expenses are our highest. 😉
John and Bev
PS Thanks for the shout out

[kimberlyperron]

Great advice Julia! Thank you for sharing.

[boatingcharlie]

Love the pretax 401K, all that money I would have paid taxes on will make money rather than paying today's taxes.

[Northern_Squirrel]

Love the video Julia. Although some of what you have shared are geared toward American viewers, I can relate to them. One thing I don’t “understand” is your healthcare system and why it’s sooo expensive. Majority of developed countries have a universal healthcare system funded from our tax dollars and we don’t need to worry about how we are going to pay essential healthcare including doctor visits and emergency. Why not people whether you are blue or red, conservatives or liberals demand to have the system changed so it’s not a political issue every 4 years. When “crazy” Bernie talked about universal healthcare system, he was being labeled as socialist yet it seems majority of Americans love that idea and sick and tired of having big corporations making massive profit off the premium.

[byteme]

The best way for retirees to deal with the ridiculous health care “system” in this country is to leave for another country where there is some semblance of sanity.

[bruceeigsti]

So if get an aca plan with the deductible you mentioned.can I get an hsa acct?

[MyWillbot]

Are you a fee only or an AUM cost structure?

[rhondavigil]

Health insurance
Income Taxes
Travel
Property Taxes
Home maintenance

[mindcache]

Plus : cars. The worst loser. Lucky that I worked it out and had visited 38 foreign countries in my job. Don’t need to travel much as I moved to an island in the pacific. Completely free health care, no car ; if I need one, I rent for the time. No debts. Cost of living is 30% of the U.S.