The 1 Retirement Budgeting Mistake Too Many People Risk Making

What: Retirees risk overspending in the first year, leading to a lifetime of financial strain.
Why: This mistake occurs when retirees underestimate their expenses and overestimate their income in retirement.
Signal: A study found that **60%** of retirees spend more in the first year than they budgeted for.
Target: Aim to save **25%** of your pre-retirement income for living expenses in retirement.
Risk: Failing to account for rising healthcare costs, which can increase by **5-7%** annually.