As one gets closer to retirement, it can be a little scary trying to figure out how to pay for all of life’s expenses without an income for the first time in your life. But do remember that there are a number of expenses that will go down dramatically, or disappear completely, in retirement.
For example, one is likely not to have any commuting costs. Meals and illnesses related to work go away. And anything you spend money on to decompress after a stressful day at work will go away as well.
As many of these costs go down, the one cost that is likely to increase is medical expenses, which can rise dramatically the older we get. For more, read the full article here.