You’ve spent a good portion of your life working and saving to pad your retirement fund. Once you reach that milestone, you want to feel confident that your nest egg filled with 401(k) contributions, traditional IRA lump sum distributions and Social Security benefits is big enough to cover your needs in your golden years.
As you approach retirement age, it’s important to analyze your investment strategy and anticipate some of the costs that could eat into your savings. Here are seven expenses that can drain your retirement savings — and how to plan for them.
