US. This Is The Best Kept Secret In Retirement Planning & It’s About To Make Retirement More Expensive & Complicated
Looking past the gas pump to me on the other side, a 60-something year old woman states, “I waited a long time for this.”
Jiggling the nozzle out from my tank, “What’s that?” I ask.
She replies blandly, “Retirement.” Continuing, as if speaking to a larger invisible audience, she points up to the pump price sign and shakes her head saying, “With these prices, I just don’t know.”
Fuel prices, and transportation costs generally, are on the rise for all of us. However, it may be retirees that will see the shock first. Not just the price shock but what the shock may mean to their best made retirement plans.
When planning for retirement few of us sit around the kitchen table, in our employer’s 401(k) retirement seminar, or at a financial advisor’s desk factoring in transportation as a major cost of retirement. We just bake it in. It is assumed. In effect, transportation is a hidden cost of retirement.
It may be hidden, but one of the best kept secrets in retirement planning is that transportation is the second largest expenditure in retirement after housing.
Read more @Forbes
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