Inflation is often reduced to a single number: 3%, 4%, or whatever the latest headline says. But there’s more to the story. The government publishes several inflation measures, each designed to capture a different view of how prices are changing. CPI, CPI-W, CPI-E, and PCE can tell very different stories—and the inflation rate that matters most may be the one reflected in your own spending habits. For retirees and households with higher healthcare costs, that difference can be especially important.

Most retirees plan for Medicare premiums and prescription coverage—but a few costs tend to slip through the cracks. Fidelity puts average lifetime healthcare spending for a retired couple at roughly $330,000, not counting extended care, and new Medicare Part D rules cap drug costs at $2,000 a year only for medications on your plan's covered list. Add in the healthcare-access tradeoffs of a rural retirement move or the growing appeal of concierge medicine, and the real cost of retirement healthcare starts looking a lot bigger than the basics.

The first year of retirement can feel exciting, uncertain, and everything in between. Here's what to expect emotionally, financially, and practically as you settle into this next chapter. Reach out if you'd like to talk through your transition.

Discover why starting early is often more powerful than saving more. This article uses a side-by-side comparison of two hypothetical savers to illustrate the remarkable impact of compound growth over time.