Budget planning for retirement. A checklist helps.
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Budget Planning for Retirement: A Checklist Helps 

What income and expenses can I expect during retirement? Will I have enough money for the desired standard of living? And how can assets be expected to develop? The checklist for budget planning offers clarity for the period after you retire. 

A budget plan for retirement shows how high the income and expenses will be during retirement, whether the money for the desired standard of living is sufficient and where there is potential to make savings. For one, the tool is used to analyze the situation and to monitor finances. But it can also be used as a basis for future income and wealth planning.

Knowing Your Budget Lets You Calculate with Accuracy

The first step is to have detailed knowledge of future budget items. By far the highest expenses will be for accommodation, taxes and insurance. This is where you can really save a lot – for example, you can adjust your living situation, take advantage of tax benefits and optimize your insurance coverage.

It is also important to answer questions such as: Does the budgeted expenditure correspond with reality? What things may change after retirement? If you keep an eye on these open points and seek advice as and when you need it, you are sure to be on the safe side.