December 13, 2020

7 Budget Categories When Planning For Retirement

Having a good budget will help you have more confidence as you prepare for retirement. Here is a list of the 7 primary categories when planning for retirement.

The 7 primary budget categories are:

Housing
Loans & Liabilities
Food & Personal Care
Insurance & Medical
Vehicles and Transportation
Travel & Entertainment
Giving & Misc

Below are a few examples of expenses that would be included in the Housing category:

Real Estate
HOA Dues
Electric
Garbage
Water
Sewer
Natural Gas
Cable
Internet
Cell Phone
Home Phone
Security System
Home Improvements
Furniture
Yard Maintenance

Create a retirement budget that is unique to you. Try it for free. Click Here.

Below is a video with all of the expenses in each category:

‍

October 14, 2025

Enhanced Senior Deduction 2025: What Retirees Need to Know

The Enhanced Senior Deduction is a new tax benefit introduced by the One Big Beautiful Bill Act (OBBBA) beginning in 2025. It provides an additional $6,000 deduction per person age 65 or older, with income-based phase-outs starting at $75,000 for individuals and $150,000 for married couples filing jointly. This blog post explains how the new deduction works and includes a simple Enhanced Senior Deduction Calculator to help you estimate how much of the deduction you may qualify for under the new rules.

September 25, 2025

Designing A Great Year

7 Simple exercises to help you plan the best year of your life

7 Budget Categories When Planning For Retirement

Below is a video with all of the expenses in each category:

More posts