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Comments about ‘4 hidden costs of retirement’

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Published: Wednesday, Jan. 29 2014 10:45 p.m. MST

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Walt Nicholes
Orem, UT

This sounds like scare tactics for the purpose of increasing investment.

If you can't afford to move to follow your grand kids, then don't move.

If you can't pay for your grandkid's college (or mission) then don't.

If you can't afford to travel, then don't.

The only legitimate item in this list, in my opinion, is medical costs, and even here - don't pay for every little thing that MIGHT help you live a few months longer. We are all going to die. It is honorable. If you are blessed with cancer at age 85, just let go. Don't pay $100,000 to live a year or two more.

And for heaven's sake lose the idea that you have to leave your kids an inheritance. You don't.

Live within your means, and accept what God has in store for you.

carlyt
ny, NY

All four of these topics (health care, housing, relocation and grand-parenting)are discussed in several pages and posts on the retirement site Retirement And Good Living. The site also provides videos on health/fitness and retirement locations and covers many other retirement related topics.

george of the jungle
goshen, UT

We all learn from mistakes. Now we can't afford to make them any more. Look ay the past 10 years at how much money was spent over the years than bubble it for the next 10 tipple it for the ten after that. To me I look at the potential, the odds and what the risks are.

Coug50years
SLC, ut

The biggest surprise for us has been the unexpected cost of dental care!

1covey
Salt Lake City, UT

Healthcare is a downer, moneywise. As an employee, my healthcare premiums were essentially considered tax-exempt and deducted from my waqes before tax. There was also a program where you put aside money for medical costs which also was tax-exempt. After retirement, healthcare premiums can only be deducted as part of medical/dental expenses, which, after a 5% reduction then can be used to reduce taxable income, resulting in a relatively small decrease in tax liability. All medical dental expenses should be deductible from taxable income, especially for retirees. This single action would help everyone deal with medical expenses, better.

Pacific_Creek
Puyallup, WA

As a 40 something with several kids hopefully starting down the retirement, mission, marriage track I don't worry about retirement. I just will work until the day I call in dead!!! I sincerely believe if you learn to live within your means early in life then you will have learned to live within your means when retirement finally does come. In a world obsessed with having things NOW and getting everything on credit it is a lesson many are failing to learn and that will spill over into retirement.

carman
Wasatch Front, UT

Save 10-15% of your income every paycheck (change your lifestyle and living arrangements if you can't do this RIGHT NOW), learn to invest it wisely (note: this does not mean just sticking in in CDs; learn to invest in the EQUITY of world-class businesses, in prudent bonds, and in real estate. If you don't know how to invest wisely, get help from a financial planner who charges by the HOUR, uses, low cost investment vehicles, and will diversify you across various stocks/bonds/real estate), invest in long-term quality assets and avoid the temptation to buy/sell constantly, work hard, keep your skills current, and remember, the world is about relationships, joy and peace, NOT money.

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