Retirement is not just about saving money. It’s about knowing how much you will need to live comfortably. Living in Los Angeles makes this even more important. Housing, healthcare, and everyday expenses are higher than the national average. And your lifestyle matters.

I’m David Kassir from Manna Wealth Management. I help people figure out exactly how much they need for retirement in Los Angeles. Too many people guess, and that can leave them short when they stop working. Here’s a clear approach.

Why Retirement Costs More in Los Angeles

Los Angeles is a desirable place to live, but it’s expensive. Housing costs are high. Property taxes and maintenance add up. Groceries, gas, and healthcare are more expensive than in many parts of the country.

Even if your home is paid off, your monthly costs can be significant. If you want to travel, eat out, or stay active, that needs to be part of your budget. A realistic plan considers both current and future expenses.

Step 1: Know Your Monthly Expenses

Before you can plan, you need to know exactly what you spend. Many people guess. In retirement, every dollar matters.

Look at:

• Housing: mortgage or rent, taxes, insurance, maintenance
• Utilities: electricity, water, internet, phone
• Food: groceries and dining out
• Transportation: car payments, gas, insurance, repairs, public transit
• Healthcare: insurance premiums, co-pays, prescriptions, dental, vision
• Lifestyle: hobbies, travel, gym memberships, entertainment
• Insurance: life, home, umbrella
• Taxes: property and state taxes

Once you total this, you’ll know your real monthly costs. Multiply by 12 for the annual amount. Then estimate the total for your retirement years. For example, if you spend $8,000 a month, that’s $96,000 per year. Over 25 years, that totals $2.4 million — before inflation.

Step 2: Factor in Inflation

Inflation changes everything. Prices go up each year. $8,000 today could cost over $13,000 a month in 25 years at 3% inflation. Many retirees forget this. Planning without inflation can leave your savings short.

At Manna Wealth Management, every retirement plan includes realistic inflation projections. It ensures your plan holds up over decades.

Step 3: Healthcare Costs Are Significant

Healthcare is often the biggest surprise in retirement. Even with Medicare, you still pay premiums, co-pays, and prescriptions. Dental, vision, and hearing are extra. Long-term care is separate and can be very costly.

In Los Angeles, healthcare costs are higher than average. A year in a nursing home can cost more than $120,000. Home care may run $30 to $50 an hour. Planning for these expenses is essential to avoid surprises. Manna Wealth Management helps clients build realistic healthcare projections into retirement plans.

Step 4: Longevity Risk

People are living longer today. That’s good news, but it also means your money needs to last longer. If you retire at 65, you might live 25 or 30 years. Many plans assume shorter life spans. Running out of money is one of the biggest risks in retirement.

A solid plan includes a buffer for longevity. It ensures you can cover living costs even if you live longer than expected.

Step 5: Don’t Rely on Social Security Alone

Social Security helps, but it usually won’t cover everything. The average monthly benefit is around $1,900. In Los Angeles, that often won’t cover rent or basic living costs.

You need additional income from savings, investments, or other sources. Manna Wealth Management builds retirement strategies that combine Social Security with other income streams for a reliable foundation.

Step 6: Build a Retirement Income Plan

Saving money is just one part of the equation. You also need to turn savings into income. A strong retirement plan blends multiple income sources:

• 401(k)s and IRAs: tax-deferred growth
• Roth IRAs: tax-free withdrawals
• Pensions: if you have one, know how much and when
• Annuities: can provide guaranteed income if used wisely
• Taxable investment accounts: stocks, bonds, funds
• Real estate: rental income can supplement cash flow

A diversified approach reduces risk and helps maintain your lifestyle. At Manna Wealth Management, we design plans to balance growth and security.

Step 7: Plan for Taxes

Taxes don’t disappear in retirement. California has high state taxes. Withdrawals from traditional retirement accounts are taxed as income. Social Security may be partially taxable depending on your total income. Real estate can trigger taxes as well.

Tax planning can save you tens of thousands over your retirement years. It’s not just about how much you save — it’s about how much you keep.

Step 8: Housing Decisions Matter

Housing is usually the largest expense in retirement. If your home is paid off, that helps. But property taxes, insurance, and maintenance remain.

Some retirees downsize. Others rent a portion of their home for income. In Los Angeles, property values are high, and real estate can be a tool to fund retirement if handled carefully. Each choice has tax and financial implications.

Step 9: Prepare for the Unexpected

Life rarely goes as planned. Emergencies, medical issues, or market downturns can disrupt your plan.

An emergency fund of six months to a year of expenses is important. Insurance, such as long-term care or umbrella liability coverage, protects your assets when life throws curveballs.

Step 10: Investing in Retirement

Investing in retirement is different than when you are working. You want to protect your wealth while generating enough growth to outpace inflation. Cash alone loses value over time.

A diversified portfolio — a mix of stocks, bonds, and other assets — provides stability and growth. At Manna Wealth Management, we tailor investment strategies for retirees to meet income needs while managing risk.

Step 11: Estate Planning

Estate planning is not just for the wealthy. Everyone should have:

• A will
• A living trust
• Power of attorney
• Healthcare directives
• Correct beneficiary designations

Proper planning ensures your assets go where you intend. In Los Angeles, even modest real estate can create significant estates. Without planning, taxes and legal delays can affect your family.

Step 12: Lifestyle Goals

Retirement is not just about money. It’s about living the life you want. Some people want to travel. Others focus on hobbies or family.

Be honest about your goals. They shape your budget. Travel costs money. A quiet life at home may cost less. Your plan should match your real lifestyle expectations.

Step 13: Start Early — Or Start Now

The earlier you start, the better. Compounding works over decades. But it’s never too late. Even in your 50s, you can still build a plan that works.

The key is honesty about your numbers and goals. Guessing is risky. A clear plan, even started late, is better than no plan at all.

Step 14: Review Your Plan Regularly

Life changes. Markets change. Goals change. Review your plan at least once a year. Adjust for spending, investments, and life events.

This keeps your plan on track. At Manna Wealth Management, we meet regularly with clients to ensure their plans stay relevant.

Step 15: Work With a Trusted Advisor

Retirement planning can feel complicated. Taxes, investments, insurance, and estate planning all matter. You don’t have to navigate it alone.

Working with David Kassir at Manna Wealth Management gives you clarity. You’ll know where you stand, what to expect, and how to reach your goals. His team helps Los Angeles residents plan realistically and confidently.

A Real Example

Let’s take a practical example. You want to retire at 65 on the Westside of Los Angeles. Your current monthly expenses are $8,500. Assuming 3% inflation:

• In 10 years, costs rise to $11,400/month
• In 20 years, $15,000/month
• Over 25 years, you may need $3.5–4 million to sustain your lifestyle

Adding healthcare, taxes, and travel increases that number further. This shows why precise planning is critical.

How Much Do You Really Need?

There is no single number for everyone. Some people need $1.5 million. Others need $5 million. It depends on:

• Monthly spending
• Housing situation
• Life expectancy
• Healthcare needs
• Taxes
• Lifestyle goals

The best approach is to build a personalized plan. At Manna Wealth Management, we focus on clear, realistic projections.

Final Thoughts

Retirement in Los Angeles is achievable with the right plan. You need to understand real costs, plan for inflation, healthcare, and taxes, and diversify your income sources.

Retirement is not a single moment; it’s a long stage of life. Your choices today shape your comfort and security tomorrow.

Start early if you can. If you are starting later, a clear and realistic plan can still make a big difference.

Working with David Kassir at Manna Wealth Management ensures your plan is realistic, tailored, and actionable. You’ll know exactly where you stand and how to achieve your retirement goals.

Retirement is your life, your future, and your goals. A proper plan helps you live it on your terms.