The usual method for estimating spending needs in retirement is to take your post-retirement household budget and tack on an inflation rate, such as 2%. Not so for health expenses.
Some expenses increase at a faster rate than the inflation rate you use, others at a slower rate, but overall, expenses such as housing, utilities, food, and so on, should rise with the general rate of inflation.
Health expenses are an exception. Projecting future health care costs in retirement can be tricky because there are several factors influencing the amount you will pay for health care in the future.
Last Week at the Office!
Friday, August 9th was “Team Picnic Day” at TFG. We had all kinds of great picnic food, particularly sandwiches from the Millburn Deli! Debbie had to leave for a client meeting just before lunch and Rob Papa was on vacation. I guess we’ll have to get Millburn Deli again!
Check out our featured blog post this week:
Some people are convinced that we are approaching the end of Social Security, and fast. In fact, it has been causing many Americans to question themselves:
“Will Social Security still exist when I retire?”
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published by The Carson Group
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Have a question for Debbie about retirement planning in Ramsey, NJ?