6 Ways Spending Changes in Retirement

Most people spend less money in retirement. Here’s what they cut from their budget.

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How retirees choose to fill their newfound hours of leisure time can make a big difference in their retirement security. "They can either spend this time on activities around the house that reduce overall spending, such as doing more home repairs yourself, preparing more meals at home, doing your own cleaning rather than getting someone else to do the cleaning, and going out and looking for deals and smart spending opportunities, or they could spend this time traveling or entertaining—and that takes money," says Rohwedder. "It very much depends on what people do with their newly gained time."