Expenditures Decrease With Age

[TromboneAl]

[Edit: Sorry, just noticed that this is alreadying being discussed in another thread.]

Here's an article about spending in retirement.

"Traditional retirement planning assumes that a household's expenditures will increase a certain amount each year throughout retirement. Yet data from the U.S. Bureau of Labor's Consumer Expenditure Survey show that household expenditures actually decline as retirees age. Consequently, under traditional retirement planning, consumers tend to oversave for retirement, underspend in their early years of retirement, or postpone retirement."

 

[Mr._johngalt]

Here's an article about spending in retirement.

"Traditional retirement planning assumes that a household's expenditures will increase a certain amount each year throughout retirement. Yet data from the U.S. Bureau of Labor's Consumer Expenditure Survey show that household expenditures actually decline as retirees age. Consequently, under traditional retirement planning, consumers tend to oversave for retirement, underspend in their early years of retirement, or postpone retirement."

Other than ourselves, I don't have first hand knowledge of any retiree's
budget variation pre. vs. post retirement. The closest I could come is probably my parents. I know their spending has not increased much (yet),
but they both came through the Depression which may account for
a little extra frugality, along with both being in their late 80s. I think
our spending might actually increase a bit after we are both drawing SS,
but then I cut back very severely in order to ER.

JG

 

[Spanky]

Thanks for the article. It seems that people are afraid of spending as they grow older.

Spanky

 

[playaman]

I don't think "fear of spending" is as significant as declining health in explaining why older persons tend to spend less (in constant dollars) as they get older. My mother and stepfather travelled extensively until he became physically unable to do so. Now, they go nowhere, and I see parallel patterns of behavior among others of similar age (late 80s, early 90s).

 

[Cut-Throat]

Al - Thanks for the Article.

I have thought along these lines ever since I retired. I have planned an additional $20K per year for Travel until age 80. Then I pull back.

After all. Come up to any 85 year old ask them if they could have anything they wanted, and they probably pick something like "A nice sunny day on the porch with a cold glass of lemonade." - In other words things that don't cost much.

Once people reach 85, the thought of traveling to Europe is distasteful on all levels. Some people Like John Galt reach this conclusion before age 60 - (We call them Old Pharts! )

 

[cute fuzzy bunny]

According to Jeff Foxworthy, all any man ever wants at any age over 11 is a nice cold beer and to see somethin' naked. Depending on your approach, that set of activities can be very inexpensive, or highly expensive.

He hasnt opined on what women of any particular age want.

 

[Nords]

He hasnt opined on what women of any particular age want.

One of the sitcoms-- "Rodney" something?-- has a sign on a woman's refrigerator.

"My fantasy: two men-- one to clean, one to cook."

 

[cute fuzzy bunny]

Hmm...my wife gets that from one man. Methinks I'm getting a raw deal. But I sure dont want another guy in here helping me.

 

[Nords]

Hmm...my wife gets that from one man.  Methinks I'm getting a raw deal.  But I sure dont want another guy in here helping me.

You'll remember this conversation the day you teach Gabe to start cleaning up after himself and then take a break to make dinner.

Living with two women sure didn't turn out the way I thought it would, either!

 

[cute fuzzy bunny]

I tried a little experiment a few minutes ago. I was lounging on the couch with a beer watching The Daily Show when my wife zoomed into the room with the baby in his carrier, pushing a vacuum cleaner. I made motion for her to turn it off a minute. "When you're done with that, can you get my dinner ready and finish washing my laundry?".

I dont think her reply is printable in a public forum.

 

[VoyT]

  And you posted this after you unwrapped the vaccum cleaner cord from around your neck, right?

 

[MJ]

"When you're done with that, can you get my dinner ready and finish washing my laundry?".
I dont think her reply is printable in a public forum.

What do you expect when the wife wears the pants in the family. Mr. Mom.

MJ

 

[cute fuzzy bunny]

Eh, she mostly just giggled and shook her head as though I had just mouthed the most foolish statement ever uttered.

And man, does she look good in pants! Made all the girls jealous when she went back to work because she not only lost all the baby weight she lost a few extra lbs. I wont mention the bigger boobs. Whoops.

Every time I take gabe out shopping, the cashier always calls me mr. mom. Still not sure I like that, but what the hey...

 

[laurence]

I'm sure I don't like it! Why can't they recognize you for being what you are: HEY a good DAD! Gender roles, allive and well.

My step-mom and Dad switched who stayed at home half way through their 4 kids, and it was a great experience. DW and I have often discussed me staying home with the kids at some point.

O.K. end of rant, I know most don't mean anything by it. I just think stay at home Dads (or Moms for that matter) don't get enough credit/respect.

 

[cute fuzzy bunny]

I dont take it too badly. She always tells me about being 3rd child in a family of 9 and how her dad stinks at 'being a dad' and how nice it is that I take such good care of him.

Its sometimes a long wait in line and he gets fidgety so I play with him a little bit to keep him entertained. Last week we found out he somehow has 'monkey feet' which makes him laugh right out loud. And this week I think I discovered that he also might have 'monkey butt'. This makes my wife : but she says "oh well, he seems to enjoy it and so do you. But he does NOT have monkey feet OR a monkey butt (glare)". I told her I have sent a photo of the alleged monkey butt to a world reknowned monkey butt specialist for analysis, and we should soon have his verdict.

I found a little outfit for him a few days ago that has a bunch of monkeys on it, which makes me deliriously happy.

Small things for small minds...

 

[MJ]

I'm sure I don't like it! Why can't they recognize you for being what you are: HEY a good DAD! Gender roles, allive and well.

You're right, whether you're a mom or dad, a great parent is just that.

But Mr. Mom is just a playful label IMO.

I will make an assumption th does the shopping during hours when the average dad's typically at work, so the market may have a lot more Ms. Mom than Mr. Mom.

 

[cute fuzzy bunny]

Ding ding ding...we have a winner! 3 in the afternoon is optimal shopping time around here. The stores are mostly empty except for me, a few moms, and some old retired couples.

Just dont try it on a weekend...

 

[laurence]

Yeah, that post of mine was too harsh. It's a shame, though, that TH is the exception to the rule (re: weekday afternoon shopping = no dads).

Monkey Feet! Tori's favorite game! Pat them together, pull them to her mouth! Lots of laughs!

 

[cute fuzzy bunny]

Clearly you know this game.

Indeed, a big razzberry on the toes brings a giggle every time. ESPECIALLY if they're MONKEY FEET!!!

I have confirmation from the monkey butt expert that it is, in fact, monkey butt as well. My wife is in denial.