Retirees spend money in surprising ways!
At a recent lunch and learn, we discussed spending in retirement. Many of us go into retirement hoping to enjoy life, traveling, planning on a life of leisure. You may be surprised at where retirees are actually spending their money!
Listen to an expert and see the statistics on retiree spending:
Ryan Bertrand from Transamerica shared with us some recent statistics on retiree spending. As we age, we spend less on travel and restaurants. In fact, retirees spend less than they planned to spend on these things. Where did they spend their money instead?
As we age, we spend more on healthcare. More than we thought we would! 29% of retirees spend more on health insurance premiums than they thought they would. 25% of retirees spend more on health costs, not including health insurance premiums.
Learn more about retiree spending and plan for your own retirement expenses by talking with your financial planner at A&I Wealth Management!