The most important cost for your retirement

Housing is the biggest expense for most people, typically consuming a little less than half of their monthly income most of the time. Ideally you would have a paid off mortgage to allow you to avoid the housing cost entirely. Now you may be thinking to yourself well if this cost is so important and I’m young then I have plenty of time to save. This is not entirely true. Most homes will require a down payment which requires saving for. The other thing to keep in mind is that even though housing is the biggest expense an equally important cost are the costs of healthcare. Healthcare and housing are very likely together to make up the bulk of your spending in retirement. These two broad categories also cover numerous expenses. It is impossible to predict what your health conditions will be. You can practice healthy habits such as getting exercise and eating well, but those mostly improve your odds of avoiding disease. You can do everything right and still may encounter health concerns. This is why its important to save as much as you can and balance it with living the life you enjoy. <a href="https://andrewleung14.medium.com/the-most-important-cost-for-your-retirement-e2e913ab52fb">Website</a>