How to Budget for Unexpected Costs in Retirement

Planning for surprise expenses can keep your retirement on track.

When you draw up a retirement spending plan, you'll find no shortage of budget worksheets. But they're unlikely to include a line item for the adult child who lost a job and needs a huge cash infusion. And have you planned to shell out $10,000 for major dental work in the same year that your dog needs a $5,000 total hip replacement?

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Susan B. Garland
Contributing Editor, Kiplinger's Retirement Report
Susan Garland is the former editor of Kiplinger's Retirement Report, a personal finance publication whose subscribers are retirees and those approaching retirement. Before joining Kiplinger in 2006, Garland was a freelance writer whose work appeared in the New York Times, the Washington Post, BusinessWeek, Modern Maturity (now AARP The Magazine), Fortune Small Business and other publications. For 12 years, Garland was a Washington-based correspondent for BusinessWeek, covering the White House, national politics, social policy and legal affairs. Garland is a graduate of Colgate University.