How Your Financial Advisor Can Help You Deal with Unexpected Expenses in Retirement
When you imagine your retirement, you tend to focus on the fun aspects of your freedom from working after so many years. You are most likely daydreaming about traveling to see parts of the world you were not able to experience in your youth or finding a new hobby. However, you must also plan for the financial side of retirement. Meeting with your financial advisor/retirement planner can help you create a custom retirement plan that works with your retirement agenda and how much you can afford to put aside.
Sage Investment Advisers, LCC in Poughkeepsie, NY meets with clients regularly to review their retirement expectations and current income. Your financial advisor/retirement planner will also be able to advise you on the many expenses you may already be aware of in retirement as well as those unexpected expenses you may have never thought of. Here is a list of a few unexpected expenses that may crop up in retirement.
Healthcare Expenses
Medicare doesn’t cover every healthcare expense in retirement. This is where your healthcare costs in retirement have the potential to skyrocket.
One example of a service that may not be covered under Medicare is long-term care. Many long-term care facilities and home-care services “charge co-payments or extra fees for additional services that aren't provided under the long-term plan.”1
In addition to long-term care, Medicare may also not cover expenses related to2:
Ambulance services
Transportation to/from treatment
Homecare
Prescription drugs (depending on your insurance)
Over the counter treatment and supplies
Occupational therapy outside of a hospital
As you plan for retirement, consider all of the health-related expenses that may arise.
Investment Losses
As you work with your financial advisor, you can develop a long-term investment plan that is focused on retirement planning. That being said, you can never completely predict the market so investment losses may be one of your financial considerations. To mitigate this risk, make sure that your investment portfolio aligns with the amount of risk you are willing to take, especially in retirement.
Home Maintenance
After retiring, you may find that you’re spending more time at home, and you might want to make some home upgrades. While you can plan for many of these changes, some might arise unexpectedly. If your health changes or you face a medical procedure, you may need to adapt your home to be more accessible.
Or you may find yourself in a situation where you have to care for a loved one, whether it’s an aging parent or relative, or you have to provide a place for your adult children to come if they need assistance. Even if these situations aren’t in your initial plan, they may be worth planning for as you consider your home maintenance in retirement.
Hobby Expenses
Retirement is a time to celebrate everything you accomplished in your career and take time to enjoy the small things in life. That being said, some retirees might be caught off guard by the cost of these new hobbies and activities. Because retirees are on a fixed income, it’s important to plan for these expenses in detail so they don’t crop up unexpectedly.
How to Deal With Unexpected Expenses in Retirement
Of course, this is just a shortlist of the many unexpected expenses that can arise during retirement. But luckily, you can help protect your retirement income by anticipating the unexpected. As you work with your financial advisor, consider:
Aligning your retirement plan with your goals
Setting aside an emergency fund for unexpected expenses
Maximize tax savings by maximizing your qualified retirement plan contributions during your working years
Time your withdrawals to reduce your overall tax bill
Ensure that your investments are aligned with your risk tolerance
Retirement planning is an exciting process and requires detailed planning to anticipate both the expected and unexpected expenses. Working with a qualified financial advisor can help you feel secure in your retirement planning.
Retirement planning can be an exciting process, but working with an experienced financial advisor/retirement planner will ensure you are taking both expected and unexpected expenses into account. They will also help you create a customized plan that will fit your budget as well as your retirement goals.
Published by Sage Investment Advisers, LLC in Poughkeepsie, NY
June 23, 2025 Sage Investment Advisers, LLC Named 2025 Best Financial Planner in the Hudson Valley WAPPINGERS FALLS, NY — Sage Investment Advisers, LLC, a trusted and local fiduciary firm based in Wappingers Falls, is thrilled to announce they have been chosen as Best Financial Planner in the Hudson Valley for 2025 , by Hudson Valley Magazine. Sage Investment Advisers beat out many other local financial planners and advisory firms to win the title of Best Financial Planner in the Hudson Valley. The Best of the Hudson Valley is an annual competition from Hudson Valley Magazine, where locals vote for their most beloved local businesses in each category. “We are honored to be named Best Financial Planner in the Hudson Valley,” said Jerry Schuder, President of Sage Investment Advisers. “This recognition validates the daily efforts of our team, working tirelessly to guide clients in retirement planning, investment management, and wealth preservation with integrity and care.” Sage Investment Advisers serves clients throughout the Hudson Valley region, including Wappingers Falls, Poughkeepsie, and beyond, offering tailored financial strategies, retirement planning, Social Security optimization, and real estate advisory services. Sage is dedicated to providing their clients with custom financial and retirement strategies to help them plan their retirement and legacy. This latest achievement adds to their list of other prestigious awards which include: 2024 Readers’ Choice: Best Financial Advisor – Hudson Valley , awarded by Daily Voice facebook.com+15dailyvoice.com+15sageinvestmentadvisersllc.com+15 Multiple Five‑Star Wealth Manager Awards (2012–2016, 2022–2025), presented by Five Star Professional fivestarprofessional.com+2fivestarprofessional.com+2fivestarprofessional.com+2 Recognized growth as the Hudson Valley’s #1 fastest-growing wealth management firm in prior industry rankings m.facebook.com+10sageinvestmentadvisersllc.com+10fivestarprofessional.com+10 Best Financial Advisor Firm (2024-2025)-Hudson Valley, awarded by USA Today “Being part of this Hudson Valley community means everything to us,” added Vice President, Joe Guarneri. “This award reflects our clients’ confidence and the strength of our fiduciary-driven practice.” ---------------------------------------------------------------------------------------------------------------------------------------------------------- About Sage Investment Advisers, LLC Located at 1829 South Road, Wappingers Falls, NY , Sage Investment Advisers is a local fiduciary wealth management and financial planning firm. The team combines financial and investment knowledge with decades of experience to offer custom investment strategies, retirement roadmaps, Social Security optimization, college planning, and real estate advisory services—all designed to empower clients to pursue financial peace and legacy building. Contact Jerry Schuder President, Sage Investment Advisers, LLC (845) 240‑1551 info@sageinvestmentadvisersllc.com Website: sageinvestmentadvisersllc.com Sage Investment Advisers, LLC , serving as Hudson Valley’s premier fiduciary firm, is honored to be named Best Financial Planner for 2025 , and remains dedicated to helping clients build their wealth, retirements, and legacies.
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