How retirees can plan for the unexpected

Many people anticipate their future living expenses as they approach retirement, aiming to pad their nest eggs so they’ll be able to live comfortably on a fixed income.

It’s the unexpected expenses that can trip them up.

Top among those expenses that can put a wrench in retiree budgets: Unexpected home repairs and upgrades, such as the installation of a new roof or replacement of a major appliance, according to recent research from the Society of Actuaries, a trade organization. That’s followed by major dental expenses. (Medicare doesn’t cover dental work and dental insurance often covers only routine expenses, said Cindy Levering, a retired pension actuary and a member of the society’s Committee on Post Retirement Needs and Risks.)

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Written By: Amy Hoak

March 9, 2016 In: Uncategorized Comments (None)