Life in Retirement Isn’t As Cheap As Believed
A new study, which looked at the actual expenses of thousands of workers and retirees, concludes that for most people, three-quarters of pre-retirement income is about right, but not for the assumed reason.
In fact, the study found, average spending for consumption declines very little in retirement. The two big falloffs in expenses are from taxes and saving. Most other costs remain very much as they were during employment.
Another study conducted by the Department of the Obvious.