Figure out your expenses in retirement
Figure out your expenses in retirement

Potential new costs to consider
Health care expenses
Once you reach age 65, you qualify for Medicare, the federal health insurance program. But you'll still have deductibles, copays, and coinsurance based on your income and the plan you choose—along with expenses not covered by Medicare, like dental and vision costs.
You may also decide to supplement Medicare with Medigap insurance. And consider buying long-term care insurance if you haven't already.
Of course, if you're retiring early and you're not covered either through retiree health benefits from your former employer or through a spouse's health plan, you'll need to plan for that as well.
Lifestyle expenses
If you're planning on taking up new hobbies or traveling, remember to include these costs in your budget.
Expenses that might go down in retirement
Many people find that they cut these types of costs once they retire:
- Gas, clothing, and other work-related costs.
- Payroll taxes.
- Income taxes, if your income is lower than when you were working full-time.
- Certain lifestyle expenses, if you plan to cook more instead of eating out, for example.
- Debt payments, if you paid off your mortgage or other loans before retiring.
- Life insurance, if you decide to drop it once you retire.
Make your retirement budget
Our retirement planning worksheet makes it easy to get a complete picture of your retirement budget.
We're here to help
Talk with one of our investment specialists
Call 1-888-200-8352
Monday through Friday
8 a.m. to 8 p.m., Eastern time
Ready to start?
We're here to help
Talk with one of our investment specialists
Call 1-888-200-8352
Monday through Friday
8 a.m. to 8 p.m., Eastern time
Ready to start?
What's next?
NEED HELP? LET AN ADVISOR GUIDE YOU
The last few years before retirement are critical to reaching your goal. We can tell you whether you're doing the right things
Get more from Vanguard. Call 1-855-850-6972 to speak with an investment professional.
Vanguard's advice services are provided by Vanguard Advisers, Inc. ("VAI"), a registered investment advisor, or by Vanguard National Trust Company ("VNTC"), a federally chartered, limited-purpose trust company.
The services provided to clients will vary based upon the service selected, including management, fees, eligibility, and access to an advisor. Find VAI's Form CRS and each program's advisory brochure here for an overview.
VAI and VNTC are subsidiaries of The Vanguard Group, Inc., and affiliates of Vanguard Marketing Corporation. Neither VAI, VNTC, nor its affiliates guarantee profits or protection from losses.