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How Much Should My Retirement Food Budget Be?

RETIREMENT PLANNING INCLUDES FOOD BUDGET CONSIDERATIONS   The cost of retirement does not come with a free meal pass and for that reason many seniors continue to budget as long as they can. One popular question I get asked on the blog is-How much money is needed for a retirement food budget? Retirement goals+Retirement Health are important financial considerations for the future especially when estimating financial needs. If you are close to retirement I’d say with-in 5-7 years it would be smart to estimate your future costs and whether you will be ready for them financially. Once you have that magic estimated number that you can work with then you will at least have a clearer picture. This will also ease any retirement stress you may be feeling when the time comes to say good-bye to your career and hello to retired life. Obviously monthly net income is factored into the equation as well how much money is left after all the fixed expenses are paid. Your income needs during retirement may decrease however an increase in eating out and travelling may see an increase in your dollar needs. You might find that you won’t need as much money as […]