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July 25, 2017


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The other stats in that USA Today article are mind-blowing!

The only category I have found reduced is food spent while at work. Still need to eat but can do it slightly cheaper, although not probably much cheaper.

I don't save much on gas, still need to get around while at home. I don't save much on clothes as I didn't need that expensive of clothes for work and I have not moved to a nudist colony so still need clothes.

But now I have my own medical insurance costs, which is way more expensive. That alone makes retirement spending cost more.

Still have middle aged kids so haven't changed life much in those areas but eventually travel will probably increase costs too. Once the kids are gone I expect those expenses to go way down but that would happen with or without retirement. That is the only category of expenses I see really going down for us but it is unrelated to retirement.

I don't consider money saved on taxes from lower income to be spending because I am looking at disposal money and how much is spent to live.

So it would be instructive to see where you are saving money by actually spending less on things you used to need to spend on when working.

Apex --

1. Congrats on retirement!

2. If you follow my other blog, I'll be posting the retirement savings piece there, though it may be a few months before I get to it. (perhaps as part of my annual budget review)

It is better to work longer before retirement than to plan to work in retirement. There is no guarantee that you will be able to work then. Also, it is a myth to think that expenses will be less when retired. Initially, it can be less but as one is growing older, he may need to spend more on healthcare

I agree with each an every point.Also I feel people start retirement planning very late in their career.However I advice my children to save at least 5% from their salary each month to enjoy a successful retirement.

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