5 Simple Retirement Planning Tips That Make Life Easier

🔎 Disclosure: Heads up, babe: some links here are affiliate links, which means you might throw a tiny commission my way if you buy (zero extra cost to you). Only things you’d actually use and love get shared on this site.

1. Estimate Your Future Living Expenses Early

If you don’t know what retirement will cost, how can you plan for it?

Getting a clear picture early makes everything less stressful later.

Here’s what to include in your estimate:

• Monthly essentials, like housing, groceries, and utilities.
  
• Lifestyle costs, such as hobbies, travel, or dining out.
  
• Unexpected extras, like home repairs or family help.
  

👉 Here's How You'll Do It: Write down your monthly spending now and adjust it for the lifestyle you want later.

Make It Easy: Try Boldin to estimate your retirement expenses and see how your savings stack up.

2. Pay Off Debt Before You Retire

Nothing ruins a relaxing retirement faster than monthly payments.

Paying off debt early gives you peace of mind and more flexibility with your money.

Here’s why it’s worth tackling now:

• Frees up cash flow, so your income stretches further.
  
• Reduces financial stress, especially on a fixed income.
  
• Boosts savings power, since no money goes toward interest.
  

👉 Here's How You'll Do It: Use the debt snowball method. Start with your smallest debt and work your way up.

Make It Easy: Use Undebt.it to organize and track every debt payoff step in one place.

3. Include Healthcare Costs in Your Retirement Plan

Healthcare isn’t cheap, and it’s one expense that only grows with age.

Planning for it now keeps you from draining your savings later.

Here’s what smart planning looks like:

• Budget for premiums, medications, and out-of-pocket costs.
  
• Use HSAs to save tax-free for medical expenses.
  
• Review coverage yearly, since needs and options change.
  

👉 Here's How You'll Do It: Estimate annual medical costs and add them as a line item in your retirement budget.

Make It Easy: Open a Lively HSA account to save and invest for future healthcare expenses tax-free.

Make It Easy: Check DentalPlans.com for affordable dental coverage to avoid surprise costs later.

4. Plan for Inflation When Estimating Future Needs

Prices won’t stay the same twenty years from now. Unfortunately, neither will your money’s value.

Inflation quietly chips away at your purchasing power if you don’t plan for it.

Here’s how to protect your savings:

• Increase estimates, assuming prices rise 2–3% per year.
  
• Invest strategically to grow faster than inflation.
  
• Review regularly, adjusting for changing costs over time.
  

👉 Here's How You'll Do It: Add inflation to your yearly projections so your future income keeps up with real-world prices.

Make It Easy: Use Boldin to automatically factor inflation into your retirement goals and projections.

5. Keep an Emergency Fund Separate from Retirement Money

Your retirement savings shouldn’t double as your “oh no” fund.

An emergency cushion protects your investments from unexpected hits.

Here’s why it’s non-negotiable:

• Prevents early withdrawals, keeping your retirement intact.
  
• Covers sudden costs, like medical bills or car repairs.
  
• Adds peace of mind, knowing you’re ready for anything.
  

👉 Here's How You'll Do It: Keep 3–6 months of expenses in a separate account you can access quickly.

Make It Easy: Use a Betterment Cash Reserve Account to grow your emergency fund while keeping it liquid.

📌 SAVE IT FOR LATER! 📌