Assess the financial realities of retirement

Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Death of a Life Partner
Military Life

Rules of thumb can be a quick way to target retirement spending. Commonly heard is retirement spending is 70-80% of pre-retirement spending. Many retires actually spend more once retired because of having more time for travel and entertainment and because of higher health care expenses.

Before setting up a retirement spending plan take some time to assess your retirement reality.

The following resources may assist you in assessing the financial realities of retirement:

Being Realistic About Retirement Spending

Health Care Spending in Retirement

Yours, Mine, and Ours in Retirement Planning

Entering Retirement Tasks

1. Selecting your retirement lifestyle
2. Estimating your monthly retirement income
3. Setting up your spending plan
4. Enrolling in Social Security and Medicare
5. Managing taxes during retirement

Setting up your spending plan Subtasks

1. Assess the financial realities of retirement
2. Determine your typical monthly expenses
3. Develop a cash-flow plan for retirement
4. Plan for inflation


NAPFA Consumer Education Foundation
8700 W. Bryn Mawr Ave., Suite 700N
Chicago, IL 60631
(847) 483–5400 ext. 106