Retirement Spending Changes To Expect #245

Informed Decisions Independent Financial Planning & Money Podcast

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1+ y ago 17:50

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One of the biggest questions for people who are transitioning from full-time employment is ‘how does spending change in retirement?’. It is a difficult question to answer, but there is a lot of research out there, which points to some key takeaways.

Retirees can expect to spend less on food and clothing
You can expect to spend less on transportation in retirement
Expect healthcare costs to increase
Many retirees plan to spend more on gifting
More favourable tax rules apply to retirees
Expect your overall spending to remain broadly in line with current spending

I hope it helps.

Thanks

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