Retirement Expenses For Which You Forgot To Plan + 2023 Progress And Planning Study

The Income For Life Show

Are you preparing for retirement but feeling confident that you have covered all the expenses? Well, think again... It turns out that many retirees overlook some crucial costs that can leave them financially vulnerable. In this episode, we explore the retirement expenses that most people tend to forget, including skyrocketing medical bills, unexpected travel costs, and taxes. We also look at the Northwestern Mutual 2023 Planning and Progress study, which asked participants how much they thought they’d need to retire, how long they thought they’d need to work before retirement and more.

As usual, we’ll jumpstart this episode with some fun get-to-know-you questions. Then we’ll share a great quote of the week by Christopher Rice. For this week’s mailbag question, Laura from Omaha asks if her account is too small for her advisor to worry about. To wrap up this episode, Sam talks about her life-changing experience at Durrie Vision, where she recently got LASIK surgery.

Here's what we'll discuss on today's show:

• Get-to-know-you questions: Sam and Matt’s last meal on earth, go-to karaoke songs, and more. (4:23)
• Main topic: Not planning for medical expenses in retirement. (18:29)
• Main topic: Parental or child expenses. (22:13)
• Main topic: The cost of maintenance and repairs. (27:38)
• Breaking down the Northwestern Mutual 2023 Planning and Progress study. (29:07)
• Mailbag: I like my advisor, but he’s hard to get in touch with. Is my account too small for him to worry about? (58:38)
• Retirement Ride Along: Sam’s LASIK surgery at Durrie Vision. (1:04:55)

Links From Today's Show:

Link to Study:

https://news.northwesternmutual.com/planning-and-progress-study-2023

Durrie Vision:

https://durrievision.com/

913- 491-3330

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