Have you ever felt how money goes out so fast, and you don’t even know where it goes? No matter how careful you are at spending, there is no perfect way to determine every expense that will come your way. Usually, it is that “one-time” expenses that are not in your retirement budget that should have been there in the first place.

Since those “one-time” expenses aren’t part of your regular expense list; they are usually left out or not expected. If these expenses are forgotten, it might slay your entire retirement plan. Here are the things that you shouldn’t ignore and should part of your retirement budget.

1. Medical expenses

Health-related expenses are often overlooked, especially if you are currently healthy. Not including this to your retirement budget is a big mistake. It is best to factor in future possible healthcare expenses so that your finances won’t absorb the shock of shouldering this heavy unexpected expense.

If you retire before age 65, there are health insurance you can buy at health exchange marketplace. But, monthly premiums could be expensive. Once you turn 65, you are then eligible for Medicare benefits and could also get a Medicare supplement plan to cover your health care expenses. But, despite the coverage you’ll get from Medicare and Medicare supplements, you still need to include copayment, deductibles and coinsurance expenses in your retirement budget.

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2. Life and long term care insurance

These expenses are easily forgotten to be included in retirement budget if you pay it annually. Unless you plan to terminate any of your plans, the premiums that you need to pay should be included in your retirement budget. If you have long term care insurance, you should also account for the inflation of your premiums.

3. Home and Vehicle repairs

Nothing last forever, and of course our house and cars are one of them. House repairs and maintenance, auto repairs and maintenance are expenses that are not always around, but once it arises can cost you a lot of money. Include this in your retirement so you’ll have something to absorb the burden of this expense.

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4. Gifts and charity donations

This may seem harmless at first glance but take a look again. Giving gifts to our loved ones does not happen only once in our lifetime. It happens multiple times in a year! If you calculate how much you’ll spend just for gifts, you might be surprised at the numbers that you’ll get.

5. New car

Your current ride might won’t last up to the time you still need it. If you get unlucky, you might need to replace your current car or vehicle in your retirement. As you create your retirement budget, account for the expense of buying new car or transportation costs. Determine if a used car is enough for you.

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6. Your children or grandchildren

Sometime, if things get hard for your children, they might ask for your financial assistance at any point in your retirement. And more often than not, the money they borrowed is not repaid. While it is natural and understandable to help your children, assisting them financially could be detrimental for your retirement in the long run.