Understanding Retirement Spending Needs

by | Jul 27, 2021 | Financial Services

One of the many services a Registered Financial Consultant like Matt Dixon offers clients is a clear picture of what they need to retire with comfort.

There are many different considerations when choosing the retirement goal. Each individual in Greenville, SC, needs to consider not only the retirement goal but their retirement spending needs.

Estimating Expenses

There are ongoing expenses to consider through your retirement. These include the expenses associated with health, maintaining a home, food, clothing, travel, and the cost of healthcare and medical needs.

It can be extremely challenging to consider these options, which is where Matt Dixon is able to provide invaluable support and information. Knowing how much to plan for each of these categories helps to set minimum saving levels to provide the funding required.

Cost of Living

A significant oversight for many in Greenville, SC, is to fail to plan for the cost of living increases. This can be significant, particularly as it relates to health care expenses and costs. Working with Matt Dixon provides the opportunity to save enough to compensate for higher living costs while still having the ability to do the things you want in retirement.

Additional Spending

It is not uncommon for couples or individuals to assume retirement spending decreases from spending while working. However, this is often not the case, with retirees spending more on travel, entertainment, and purchases than anticipated. A professional financial planner will help set realistic retirement saving goals to ensure the money you need to live comfortably is available.

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