By KATE ASHFORD of NerdWallet
Retirement planning is part savings, part guessing game. How much will you need? While many of your day-to-day expenses will remain the same, some big-ticket items can take a large bite out of your savings. The average 65-year-old retired couple will need about $300,000 to handle health care costs, for instance. Seniors who live to age 80 have about a 1-in-4 chance of needing long-term care. And out-of-pocket costs for dental needs and prescription drugs can be surprising. Understanding what costs you may face in retirement can help you appropriately plan your financial future.