U.S. News & World Report - Retirees don't have to pay for professional work clothes, dry cleaning, or transportation to the office. So some workers reason that they will be able to get by with a lower income when they retire. But spending on basic necessities typically increases in retirement. The budget for food, housing, and healthcare is larger for retirees at every income level, according to research by Deanna Sharpe, an associate professor of personal financial planning at the University of Missouri. "What we can't say is that people will spend drastically less," she says. ...
Filed under: Daily Updates by admin - No Comments →
