You pride yourself on being a good planner. In fact, unlike most of your fellow Americans, you’ve had a retirement plan in place for years. You know the city in which you’re going to live, where you’re going to volunteer, which gym you will join, where you intend to travel – domestically and internationally – and which heirloom plants you will sow in your expanded garden.
But, do you know how you’re going to get around and how much it will cost?
Uh-oh.
We take it for granted every day. But, oddly enough, many of us don’t plan for the costs of transportation after we retire. Yet, according to the Bureau of Labor Statistics, transportation costs represent almost 16% of expenditures for older adults, while health care costs come in at 13.4%.
Many retirees will face the prospect of buying a new car after years of driving a company vehicle or the old family clunker. Additional costs include gasoline and motor oil, vehicle finance charges, insurance, maintenance and repairs. Others moving to the big city might give up their car in favor of public transportation. But, the cost of subways, buses, taxis and Uber add up quickly.
Our certified coaches can help you project and plan for transportation costs, as part of our holistic approach to retirement lifestyle planning. Heck, we can even recommend a reputable auto dealer or mechanic, if you need one. That’s not “above and beyond” service. It’s what we do.
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