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Will This Shocking Expense Deplete Your Retirement Savings?
It's a pretty common thing for people to see their living costs drop in retirement. By the time that stage of life rolls around, you may no longer have a mortgage to pay off. And you may be able to downsize from a two-car household to a single car if you no longer have to report to work every day.But while many of your expenses might go down once you retire, there's one specific cost that's likely to go up. And if you don't prepare for it, it could really throw your finances for a loop.Image source: Getty Images.Continue reading
It's a pretty common thing for people to see their living costs drop in retirement. By the time that stage of life rolls around, you may no longer have a mortgage to pay off. And you may be able to downsize from a two-car household to a single car if you no longer have to report to work every day.
But while many of your expenses might go down once you retire, there's one specific cost that's likely to go up. And if you don't prepare for it, it could really throw your finances for a loop.
Image source: Getty Images.
