The Average Monthly Retirement Budget Is $4,345 — Can Boomers Live Off That?

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Lets break it down.

For most retirees, housing costs remain the largest expense.

Whether paying off amortgage or renting, housing can easily consume a large chunk of the budget.

Healthcare becomes amajor financial concern, especially as medical needs increase.

Expenses such as Medicare premiums, prescription drugs, and long-term care insurance can add up.

The transition to a fixed retirement income often requires a major lifestyle adjustment.

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