Tag: cost of living

Apr 21, 2014
By Michael Rupured

My Retirement Expenses

Welcome to the third of four April posts about my retirement planning experience in honor of Financial Literacy Month. I wrote about my preparations for retirement over the years in the first post, and in the second, the sources of income I expect to receive in retirement. Now I turn to my retirement expenses. Figuring out future living expenses is a guessing game. I won’t need to replace my current income — rules of thumb say to plan to live on twenty to twenty-five percent less than preretirement income. Travel and other pursuits could push expenses higher. My life won’t change much, so I expect my cost of living will be more or less the same as now. Inflation is another question mark. How fast …