Create your retirement budget

Some expenses will likely go down after you retire, such as clothing or restaurant meals. Others might increase, such as hobbies, travel and health care expenses. That’s why it’s important to have a budget so that you’ll know if your retirement income sources will be enough to cover your anticipated expenses. There are a number of helpful budget planning resources online. These resources can help you identify the types of anticipated expenses that should be included, such as retiree health care coverage costs. You can find these resources online using your preferred search engine and searching these terms: “retirement,” “planning” and “budget”.