How to Plan for Unexpected Expenses in Retirement: A Federal Retiree's Tactical Guide
You planned meticulously for retirement. You calculated your pension, estimated your Social Security, and built a TSP balance you are proud of. Then your furnace dies in January, your car needs a new transmission, or a family member needs financial help. Suddenly, thousands of dollars are going out the door that were not in any budget. Research from the Center for Retirement Research at Boston College found that more than 8 in 10 retiree households will face unplanned expenses in any given year. Among those who do, the average annual cost is approximately $6,000 — roughly 10% of a typical retiree's annual income. At Warrior Retirement , we help you build the layered defense your retirement needs. The Most Common Retirement Surprises Healthcare Costs — The #1 Budget Killer Healthcare is the single largest unexpected expense category for retirees. Even with Medicare or FEHB coverage, deductibles, co-pays, prescription costs, and uncovered services add up quickly. Dental wo...