Think You'll Spend Less in Retirement Than You Do Today? 3 Reasons That May Not Work Out Like You Expect.
This is one area where being too optimistic could come back to bite you.
Overview
At first glance, the idea that you might spend less in retirement than you do today seems logical. After all, once you're retired, you'll no longer have to save for retirement, and you may no longer have to pay to support children or elderly parents. That can significantly reduce your out-of-pocket costs. If you plan to move to a more affordable area, that could further reduce your expenses.
But some factors could work against your goal of keeping your retirement costs down. The three items below in particular could prove problematic unless you've planned for them in advance.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.