Retirement Budgeting When Circumstances Change

Retirement Budgeting When Circumstances Change

You’ve done all the retirement planning you can. You’ve saved, you’re in a good place, and then an unexpected expense strikes. How do you handle it? Have you budgeted for a retirement emergency fund?
 

Expenses - Expected vs. Unexpected
Expenses - Expected vs. Unexpected

Average Costs for Retirees (65 & older)¹

By percentage of average retirement annual expenses

Average cost to retire bar chart

Budgeting for unexpected expenses in retirement is crucial.

bar chart for unexpected expenses

Budgeting for unexpected expenses in retirement is crucial.

What do you do when you're hit with an unexpected expense?

What to do when facing an unexpected expense
Expenses - Expected vs. Unexpected

Stay One Step Ahead

  1. Plan for potential emergencies by saving for them.
  2. Be aware of the tax implications of unplanned withdrawals.
  3. Continuously evaluate your retirement withdrawal strategy.
Find a Financial Advisor

For personalized planning, find a Financial Advisor at United Bank in your area.

1 Bureau, U.S. Census. “2020 Census Will Help Policymakers Prepare for the Incoming Wave of Aging Boomers.” Census.gov, 25 Feb. 2022, https://www.census.gov/library/stories/2019/12/by-2030-all-baby-boomers-will-be-age-65-or-older.html

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