The Retirement Budget Mistake: 5 Costs That Catch People Off Guard

Group 1 - The importance of adjusting spending habits post-retirement to avoid depleting savings [3][4] - The need to modify investment strategies as retirement approaches, shifting from high-risk to more stable options like bonds [5] - The significant increase in healthcare costs for retirees, with projections indicating an average of $172,500 in medical expenses for a 65-year-old retiring this year, compared to $80,000 in 2002 [8]