Hidden Expenses
In this episode, hosts Corey Janoff and Rachelle Vanderzanden walk through the hidden expenses that can derail your financial plan. While meticulous budgeting is not necessary for most high-income individuals, it can be helpful to “expect the unexpected”.
Listen Along!
Hidden or Unexpected Expenses Can Include:
- Large inflation-related adjustments to things like property taxes and insurance.
- Deferred home maintenance that hits all at once.
- Sometimes it’s challenging to be prepared for large costs that only hit once a decade.
- Supporting children as they get older.
- Sometimes this is by choice, but sometimes it feels necessary!
- Could range from continued education, helping with grandkids, to paying for the entire family to go on vacation.
- Divorce… Not something you plan for, but certainly has a huge financial impact for all parties.
- Lifestyle creep in early retirement.
- Increased healthcare expenses with age.
Especially as you plan for retirement, make sure to build some buffer into your expected income needs! If you think you may need $15,000 per month for regular expenses, be prepared to need more periodically for the big things that only happen occasionally. Listen to the full episode to hear more.
For more financial planning tips from Corey and Rachelle, find them on social media!
LinkedIn: @CoreyJanoff; Instagram: @CoreyJanoff and @VanderzandenRachelle; and Twitter: @CoreyJanoffCFP
Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions.
Securities and advisory services offered through LPL Financial, a registered investment advisor, Member FINRA/SIPC. Finity Group, LLC is a separate entity from LPL Financial.
Finity Group and LPL Financial do not provide legal advice or tax services. Please consult your legal advisor or tax advisor regarding your specific situation.
This material is for general information and educational purposes only and is not intended to provide specific advice or recommendations for any individual. Finity Group and LPL Financial do not provide legal advice or tax services. Please consult your legal advisor or tax advisor regarding your specific situation.
Citations:
Employee Benefits Security Administration. “Top 10 Ways to Prepare for Retirement.” U.S. Department of Labor. https://www.dol.gov/agencies/ebsa/about-ebsa/our-activities/resource-center/publications/top-10-ways-to-prepare-for-retirement
Hughes, Carol R., Ph.D. LMFT, and Bruce R. Fredenburg, M.S., LMFT. “Why the Divorce Rate for Older Couples Continues to Rise.” Psychology Today. January 21, 2026. https://www.psychologytoday.com/us/blog/home-will-never-be-the-same-again/202108/why-the-divorce-rate-for-older-couples-continues-to
Ochieng, Nancy, Juliette Cubanski, Tricia Neuman, and Anthony Damico. “Health Costs Consume a Large Portion of Income for Millions of People with Medicare.” KFF. August 21, 2025. https://www.kff.org/medicare/health-costs-consume-a-large-portion-of-income-for-millions-of-people-with-medicare/
Palasciano, Adam. “How Much to Budget for Home Maintenance”. Investopedia. May 22, 2025. https://www.investopedia.com/home-maintenance-budget-8608913
Strange, William. “How much should high earners save for retirement each year?” Milliman. November 13, 2025. https://www.milliman.com/en/insight/how-much-should-high-earners-save-retirement