Retirement is an idealized time, and rightly so. After years of working hard, you finally get to enjoy your golden years doing what you want, when you want. But even in retirement, life isn’t all fun and games. There are still bills to be paid and mouths to feed. In fact, in the US alone, many retirees reportedly average out-of-pocket costs of thousands of dollars each month.

So, here are four expenses you can generally expect to cover during retirement.

Housing Costs

Whether you own or rent, housing is likely to be one of, if not your biggest monthly expenses in retirement. If you’re a homeowner, you’ll still need to pay property taxes, insurance, and maintenance costs. And if you’re renting, your rent is likely to go up in the coming years.

Plus, you’ll likely have to elder proof your home to make it safe and accessible as you age – adding handrails, widening doorways, and installing wheelchair ramps are common examples.

Healthcare Costs

Memory care, supplements, preventive medicine, and at-home health aides are just a few of the retirement expenses associated with healthcare. Thus, healthcare costs are one of the biggest expenses retirees faces. Even if you have Medicare, you’ll still need to pay for premiums, deductibles, and co-pays.

And if you have a chronic illness or need long-term care, your healthcare costs will be even higher.

Food Costs

Food is another big expense in retirement. As you age, your taste buds and dietary requirements change and you may need to adjust your diet to accommodate these changes. So, you’re more likely to spend more on specialized foods, such as organic produce or gluten-free items.

You may also need to spend more on dining out as cooking at home could become more difficult. And if you live alone, you may not even want to cook for yourself all the time. Dining out is a great way to socialize and stay connected with friends and family after all.

Travel Costs

Travel is definitely a retirement expense you shouldn’t overlook. After all, you finally have the time to take that dream vacation you’ve always wanted, but travel can be expensive.

You’ll need to pay for airfare, hotels, and meals. And if you’re traveling internationally, you’ll need to factor in the cost of passports and visas.

Plus, traveling as a senior comes with its own set of challenges. You’ll need to account for things like accessible transportation and medical care.

Retirement is a time to enjoy your golden years, but it’s also a time when you’ll need to budget for expenses. Housing, healthcare, food, and travel are just a few of the costs you can expect to see during retirement. By being prepared for these expenses, you can help ensure that your retirement is as enjoyable as possible.