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Without proper planning, finances can spiral out of control, causing chaos and long-term hardship inretirement.
Also seethe six best things retirees spend their savings on.
The wrong bang out of retirement account could cost a substantial amount of money.
Stroup suggested retirees look for a tax professional to help ensure money is saved wherever possible.
He added that some services can help you plan for making tax-efficient withdrawals in retirement.
Long-Term Care Insurance Consultation
People often underestimate how much healthcare will cost as they age.
It is projected to increase to $159,372 over the next 20 years.
Long-term care can be one of the largest expenses retirees face, Stroup said.
Many retirees underestimate the importance of this, but its crucial forlong-term financial planning.
Retirees can get a broad overview from experienced experts for a minimal amount of money.
Attending alive or virtual seminarfocused on retirement planning can be a great investment.
These can be valuable for building confidence as you approach retirement.
Even More Affordable Options
For some retirees, $200 is a significant investment.
Luckily, there are several more affordable options available that can still help seniors with their finances.
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