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Portfolios 102: Determining Retirement Needs

Introduction to Determining Retirement Needs How Much Will You Need to Retire? Retirement: What Are Your Current Needs? What Expenses Will You Have in Retirement? How Will Inflation Affect Your Retirement? What Will Social Security and Your Pension Provide? Summary of Determining Retirement Needs
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What Expenses Will You Have in Retirement?

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What Expenses Will You Have in Retirement?

Let us start by looking at our expenses. In retirement, you will have pretty much the same expenses that you do today. You should make a list of the following expense items and the amounts you currently spend for them. You may wish to tweak them if you envision a lifestyle change down the road.

Your retirement expenses

By using a list like this, you will be able to get a better handle on your retirement income needs.