Reported 1 day ago
In an exploration of common retirement misconceptions, ChatGPT reveals that many people mistakenly believe they will spend significantly less money after retiring. Contrary to this belief, many retirees end up spending the same or even more, primarily due to increased costs in healthcare, travel, and financial support for family, compounded by inflation. To prepare for these potential expenses, pre-retirees are advised to establish emergency funds, budget for healthcare, and plan for inflation, ensuring a more secure financial future in retirement.
Source: YAHOO