How should my budget look in retirement?

As you near retirement, should you budget the same way you have been?

Your financial needs may have changed. Do you need to start budgeting for health care instead of something like housing? The chart below may help you come up with percentages that make sense for your situation:

Pie chart showing 50% of budget for NEEDS (rent, mortgage); 30% for WANTS (entertainment, shopping, eating out); 20% to SAVINGS (debt, emergency, future needs)

Try a budget tracker

You may already be doing this, but if not, creating your own budget tracker can be a helpful aid.

A blank chart to make your own budget

Data source: https://www.thebalance.com/the-50-30-20-rule-of-thumb-45392

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