5 unforeseen expenses that ruin retirement

Maybe your college kid has picked a major with dubious earning prospects, or you have an adult child who is already in financial trouble. If you know you could never resist a request for a helping hand, you'd better plan to have enough cash on hand to cover your generosity.

Motz says helping their adult children financially is probably the biggest budget squeeze on her clients who have entered retirement. Some who are still saving for retirement have put their future income at risk by helping their child purchase a home or pay for other expenses, she says.

"When I'm helping them plan, I ask them to look at their life now," Motz says. "Who's in their life? Who are they responsible for? Who do they feel they would want to help if something came up?"