6/27/2023 0 Comments How much is you need a budgetYou may be planning an encore career or looking to maximize opportunities to travel. If you're like many people, you don't buy into the traditional definition of retirement. As you near retirement, consider working with an advisor to fine-tune your budget and retirement income plan.Expect 15% of your living expenses to be related to health care expenses after you retire, year in and year out.If you plan an active lifestyle in retirement, expect to ratchet up your annual retirement budget by 6 percentage points compared with a less active lifestyle.If you know your annual income while you're still working, expect to spend between 55% and 80% of that every year throughout retirement, depending on your income, retirement lifestyle, and health care costs.
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