Citizens advisory group
What today’s retirees need to know — and how to make the most of this pivotal moment
There has never been a more complex — or more interesting — time to retire. The rules are shifting, the landscape looks different than it did even five years ago, and the decisions you make today can have a profound impact on the decades ahead. Whether you’re crossing the finish line this year or getting close, here’s what you need to know about retiring in 2026.
The Economy Is Part of Your Plan Whether You Like It Or Not Inflation has cooled from its peak, but it hasn’t disappeared. For retirees living on fixed income, even modest price increases add up over a 20- or 30-year retirement. The cost of groceries, utilities, healthcare, and housing has fundamentally reset at higher levels than most people planned for just a few years ago.
That means your retirement budget needs a reality check. The number you saved toward may have been the right target in 2019 or 2020 — but does it still hold up today? If you haven’t revisited your projected monthly expenses recently, now is the time. A good plan accounts not just for what things cost today, but for what they’ll cost a decade from now.
Longevity Is the Risk Nobody Talks About Enough Here’s a statistic worth sitting with: a 65-year-old couple has a 53% chance that at least one spouse will live past age 90 — and a 22% chance that one of them will reach 95.¹ That’s potentially 25 to 30 years of retirement to fund. Running out of money isn’t just a theoretical concern — it’s a very real possibility for those who underestimate how long retirement can last.
This is why generating reliable income — not just accumulating savings — is the central challenge of retirement planning in 2026. A large account balance looks reassuring on paper, but what matters is how effectively that balance converts into steady, predictable income that doesn’t run out. Sustainable withdrawal strategies, income-producing investments, and tools like annuities deserve a serious look in any retirement income conversation.
Social Security: Know What You’re Working With Social Security is a major piece of the income puzzle for most retirees, and 2026 brings some important updates worth knowing. Benefits received a 2.8% cost-of-living adjustment at the start of the year, and Medicare Part B premiums increased to just over $200 per month — which for some retirees offsets a portion of that increase. ² 2026 also marks the final step in the long-scheduled rise in full retirement age. For anyone born in 1960 or later, full retirement age is now 67. Claiming as early as 62 results in a permanently reduced benefit.² On the flip side, delaying past full retirement age can increase your benefit by roughly 8% per year up to age 70 — a decision that can mean tens of thousands of dollars over a lifetime.
Healthcare: Budget for It Like It’s a Line Item
For most retirees, healthcare costs are the single biggest wildcard in a retirement budget. A 65-year-old couple retiring in 2026 should expect to spend approximately $300,000 to $350,000 on healthcare costs over the course of retirement — not including long-term care.³ A 2026 report by the Employee Benefit Research Institute found that some couples may need as much as $469,000 in savings to cover healthcare expenses in retirement, depending on their coverage choices and prescription drug needs. ⁴ Those numbers tend to surprise people — which is exactly why healthcare needs to be part of the conversation early. If you’re retiring before age 65 and Medicare eligibility, bridging your coverage is an immediate priority. The options — COBRA, marketplace coverage, a spouse’s employer plan — vary significantly in cost, and the wrong choice can be expensive.
The Best Move You Can Make Right Now
Retiring well in 2026 isn’t about finding the perfect moment or waiting for uncertainty to clear. Markets will fluctuate. Legislation will evolve. Costs will rise. What separates retirees who thrive from those who struggle isn’t luck — it’s having a plan that was built with all of that in mind.
If you’re approaching retirement and haven’t had a thorough, comprehensive review of your income plan, tax strategy, healthcare costs, and Social Security timing, that conversation is long overdue. The good news is that it’s never too late to get the clarity you deserve.
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Citizen Advisory Group helps families across Northwest Ohio retire with confidence and purpose. To schedule a complimentary conversation, call 419872-0204 or visit citizenadvisory.com.
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1. Social Security Administration actuarial life tables, as cited by MyAnnuityStore Life Expectancy Tables (2026). myannuitystore.com 2. Morrissey Wealth Management. “6 Changes to Social Security in 2026: What Retirees and Workers Need to Know.” morrisseywealthmanagement .com 3. Fidelity Investments 2025 Retiree Healthcare Cost Estimate, as cited by Retirement Budget Calculator (May 2026). retirementbudget.org 4. Employee Benefit Research Institute (EBRI), 2026 Healthcare Cost Report, as cited by Kiplinger. kiplinger. com
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Investment advisory and financial planning services offered through Advisory Alpha, LLC, a Registered Investment Advisor. Insurance, Consulting, and Education services offered through Citizen Advisory Group. Citizen Advisory Group is a separate and unaffiliated entity from Advisory Alpha. While tax and legal issues may be discussed in the general course of financial and investment planning, Advisory Alpha does not provide tax or legal services. Please consult with your tax or legal professional prior to making decisions relative to these issues. All opinions expressed by externally cited sources are solely their own opinions and do not reflect the opinions of Advisory Alpha. This is for informational purposes only and should not be relied upon for investment decisions.
