Daily Expenses

Retirement life, for most people, is not that different from their pre-retirement one. They may still have to meet their friends or associates, have lunch in their favorite diner or grab some coffee from the coffee shop around the corner. One thing that makes the difference in all this is who picks up the tab for the small stuff like lunches, cell phone bills or parking bills. They might seem petty, but I assure you they can take a serious toll on your budget.

“Small-business owners and professionals who retire are often surprised at how many of their expenses were picked up by their company,” says Bert Whitehead, president of Cambridge Connection, in Franklin, Mich. “It is a jolt when they discover how much it adds up to.”