Retirees can face unexpected expenses of up to $7,000 a year. Here’s how to prepare your safety net now

When you are no longer receiving a paycheck, you have a limited ability to replenish savings through work, which makes the size of your initial reserves an existential factor in retirement planning.In retirement you can no longer "earn your way out" of a surprise bill.During your working years, many emergency expenses are exacerbated by job loss. In retirement, that risk disappears, but the stakes of an emergency actually rise.Read More: The average net worth of Americans is a surprising $620,654. But it al ...