Many retirees and people getting ready to transition out of the workforce forget to budget for healthcare expenses in retirement. Why? This is because for many years their employer has been  providing medical insurance. They tend to focus solely on putting in place an equivalent of their current net pay forgetting that post retirement, they will be responsible for their health care premiums

Just how  much  money  does  one  need  to enjoy life in retirement?

To answer this question correctly and honestly would require one to seek the truth on another major question: How long do I expect to live after retirement or what I am doing to prolong my life albeit happily ever after? Studies that attempted to provide a solution have advocated reverse arithmetic where one considers the number of years they will live after retirement in relation to the amount of money set aside for that life.