While everyone looks forward to the day that they can retire and avoid the hustle and bustle of going to work every day, there are some retirement costs that can really sneak up on you if you are not prepared. Sometimes that retirement fund that you set aside isn't enough to make ends meet once you reach retirement. This is especially true if you are relying upon social security as your retirement income. Here are several things that you should consider when you are figuring out your retirement costs.

Health Care Costs

One of the biggest costs that can overwhelm an individual in their retirement years is the cost of health care. While there are health care options available through the government, most of them do not fully cover all of the related expenses. This is especially true if you find yourself in failing health and have added expenses. It is estimated that a couple retiring at the age of 65 in the United States will spend well over $200,000 in health care costs throughout their retirement years. This is assuming that you don't need any long-term health care during the time.

Standard Living Expenses

Most of your household expenses will remain the same during retirement such as fuel for heating, electric, cable, telephone services, maintenance, garbage collection, water and so on. You might also find that food expenses stay relatively the same through these years. You will also still have things such as health insurance costs to some degree, auto, life and home insurance as well as property taxes if you own your home. You will also need to pay your mortgage payment if you still have on your home.

Enjoying Yourself

After many years of working hard you are likely looking forward to spending some time enjoying yourself after retirement. The expense that comes along with enjoying yourself will need to be considered when you are looking at your retirement costs. This might be travel expenses, joining a club, golfing or other exciting adventures that you have looked forward to all these years. Getting the most out of your retirement years might mean being very careful with the money you have to work with.

The Unexpected

There are always unexpected expenses in life and this does not change once you retire. You can expect things such as automobile repairs, unexpected illness, home repairs and even emergency travel that requires unexpected money. These things can come from nowhere and you will have to figure out how to deal with them. If you can plan for them before retirement you will be in better shape when they do come along.

There are always things that will come up along the way and it is a good idea to try to plan for the unexpected when it comes to finances. Retirement is a time to enjoy your life and slow down a little for many. The expenses that you face during retirement might surprise you and you want to be realistic about them before you get to the retirement age.