6 Ways Spending Changes in Retirement

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

March 12, 2012 RSS Feed Print

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."

Tags:: senior citizens,; retirement,; money

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retirement

ray of NY 6:03AM March 27, 2012

Many of us "60" somethings would like to wait to collect Social Security, but let's look at how many of us have been downsized/wrongsized in our late 50's. Try to find a job after 55...a job that is even somewhat remotely using your education and talents...not a greeter at a mega store. Look at the age of politicians who still have jobs in Congress. They forget that if they were out in the real world w/o their political connections...they would be unemployed. It's nice to say "work to 70" but the reality is that many people are taking SS at 62 due to the dearth of jobs available. Heaven forbid of the SS age is raised. Where will people work?

Linda of IN 5:50AM March 27, 2012