Retire Early Lifestyle
Retirement; like your parents, but way cooler

Traveling Mailbox

Retire Early Lifestyle Blog 

Free Newsletter Subscribe/Contact

Advertise on RetireEarlyLifestyle.com info here

RetireEarlyLifestyle Logo RetireEarlyLifestyle inspirational photo

In 1991 Billy and Akaisha Kaderli retired at the age of 38. Now, into their 4th decade of this financially independent lifestyle, they invite you to take advantage of their wisdom and experience.

Unexpected Costs that Can Derail Your Early Retirement

Skot Bergenmeir

Photo courtesy of Pixabay


The thought of early retirement is a comforting one. You get to leave your job behind, finally take that cross-country road trip, or relax at home. However, getting there isn’t always easy. We’re all busy running numbers on our investments and calculating our monthly expenses, but some unexpected bills can completely ruin the party. Let’s discuss a few of these issues and how to deal with them. 

Healthcare Bills

Health insurance is meant to back us up, but it doesn’t cover everything. If things go awry and a family member is not given the proper care they are due, you may find yourself wondering, “can you sue a nursing home for neglect?”

If your loved one was injured because of crummy care at a nursing home, you may have some legal recourse. Suing for negligence allows you to attempt to recover money for medical expenses, funeral expenses, and things like that. It also holds the facility accountable for failing to protect your loved one. However, make sure you consult with a legal professional to determine whether or not suing is the best choice for you.

The reality is that healthcare can catch you off guard in retirement. If you’re opting for low-cost insurance policies, it’s important to remember they have astronomically high deductibles you have to pay out of pocket before you get any compensation, and those copays for specialists and medication can add up. 

There’s also vision and dental, which may or may not be covered. If you need state-of-the-art treatments, they may not be covered, leaving you with the entire tab. Shop around for different insurance plans, look into vision and dental plans, stash away an emergency fund, and chat with family about long-term care. 

Home Repairs and Other Property Expenses

Be it the one you’ve been living in forever or just bought a new one, your home will always have ongoing maintenance needs. It’s not only about making it look pretty but also about making it safe and operational. If you don’t pay attention to this, it can cause even greater and more expensive problems down the road.

Things such as air conditioners, water heaters, and roofs don’t hold out for a good time to crap out. When they go, you’re looking at thousands in unexpected bills. The same goes for yard maintenance, pest control, and periodic system checks, which can pile up over the years. Your local government can also choose to raise property taxes, and that will take a chunk out of your monthly budget.

Be sure to create a home maintenance budget, get your systems checked on a regular basis, and have an emergency home repair fund. Always save a little extra than you expect you’ll need. This will provide room for surprises, and if nothing ever breaks, you’ll have some money for upgrades. 

Endnote

Being aware of these possible pitfalls puts you at a definite advantage. By planning in advance, you’ll be building a retirement that’s all your own. Take the reins, and make your early retirement a financially secure reality.

 

For more on Retirement Topics, click here and here and don't forget to signup for our free Newsletter.

 

Visit our book Store

About the Authors

 
Billy and Akaisha Kaderli are recognized retirement experts and internationally published authors on topics of finance, medical tourism and world travel. With the wealth of information they share on their award winning website RetireEarlyLifestyle.com, they have been helping people achieve their own retirement dreams since 1991. They wrote the popular books, The Adventurer’s Guide to Early Retirement and Your Retirement Dream IS Possible available on their website bookstore or on Amazon.com.

contact Billy and Akaisha at theguide@retireearlylifestyle.com

advertise contact ad-info@retireearlylifestyle.com

Your financial independence and travel starts here

Retire Early Lifestyle appeals to a different kind of person – the person who prizes their independence, values their time, and who doesn’t want to mindlessly follow the crowd.

HOME   Book Store

 

Retire Early Lifestyle Blog      About Billy & Akaisha Kaderli      Press     Contact     20 Questions     Preferred Links    

Retirement     Country Info     Retiree Interviews      Commentary     REL Videos