Core Insights - Assessing finances and setting a retirement budget is crucial as one approaches retirement [1][2] - Working longer can enhance retirement savings and potentially increase Social Security benefits [2] Retirement Costs - **Healthcare**: Estimated healthcare costs for a 65-year-old retiring this year are $172,500, excluding long-term care [3] - **Housing**: Even without a mortgage, retirees face costs such as property taxes, homeowners insurance, and maintenance [4][5][6] - **Leisure Spending**: Retirees may spend more on leisure activities than anticipated, with small expenses accumulating quickly [7][8]