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GOBankingRates’ editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services – our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines<\/a> and our products and services review methodology<\/a>.<\/p>\n 20 Years<\/strong> Trusted by<\/strong> Your financial situation in retirement depends not only on how much you saved but also on how well you prepared for the unexpected. Even with a solid plan, some retirees discover gaps that can upend their budgets<\/a>.<\/p>\n Here, two retirees shared the biggest expenses they regret not saving for<\/a>.<\/p>\n Healthcare Costs<\/p>\n Lesliee Antonette, now 67, developed an autoimmune disorder three years prior to her planned retirement at age 55. \u201cI was in the process of building up my retirement job. Everything came to a halt as I searched for medical treatment. Retired for 15 years, I have outlived my pension,\u201d she said.<\/p>\n<\/p>\n She spent 10 of those years traveling the country and living with family as she sought treatment. \u201cWhat should have been the beginning of the rest of my life became a struggle to stay alive to live \u2014 a life I did not want,\u201d she explained.<\/p>\n Five years ago, she found a doctor who finally helped her create a treatment plan that has allowed her to reopen her business in a different state with different laws and standards. She works as an editor and a consultant for small businesses and startups.<\/p>\n \u201cNo one can predict the future but if I had the chance to give advice to my past self, I would say put every dime in savings, take fewer vacations and do not allow yourself to rely on Social Security<\/a>.\u201d<\/p>\n Taxes<\/p>\n Kyle M., age 55, a retired American in-house counsel for a technology company who now lives in Portugal, realized a little too late that his retirement calculations were \u201cmore general\u201d than they should have been. Though he used several retirement calculators and consulted with a financial advisor<\/a>, he wished he\u2019d gotten more granular and considered his retirement vehicles more closely.<\/p>\n \u201cI never really considered the impact of taxes as I was saving for retirement. I just went with the 401(k) that the company offered and put in as much as I could. I did think it was important to get the full company match, but I never considered that these were pretax dollars and what that would mean once we retired,\u201d he said.<\/p>\n<\/p>\n While he enjoyed seeing \u201cthe balance grow,\u201d now that he\u2019s retired, withdrawal strategies and tax implications are more of an issue.<\/p>\n \u201cWe have some rental income, but nowhere near what we were making when we were working, so every dollar feels like it should go to support our living expenses. I know that we need to pay our taxes, but those feel like they are supporting someone else, not our retirement.\u201d<\/p>\n<\/p>\n A Roth 401(k) Could Have Been Better<\/p>\n![\"\"](\"https:\/\/cdn.gobankingrates.com\/wp-content\/uploads\/2023\/11\/icon-20.svg?webp=1&quality=75\"){kind=icon}
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