REWahoo
Give me a museum and I'll fill it. (Picasso) Give
Here's another take on what it costs to retire.
New study quantifies what people spend in retirement
By Robert Powell, MarketWatch
http://www.marketwatch.com/pf/retirement/default.asp?id=3&siteid=mktw
(You will probably need to register to view)
The article quotes a new study showing that typical married adults [whatever that may be] ages 65 and older have annual expenditures totaling $14,792. The top fifth in income have average expenses of $25,567 and the lowest fifth have average expenses of $10,111. [Nothing in the study about the quality of life at these expense levels.]
The breakdown on expenses is:
Housing (includes utilites, taxes, insurance, maintenance) - 29%
Health Care - 20%
Food - 13%
Clothing - 2%
Transportation - 12%
Entertainment - 10%
Gifts - 10%
Other - 4%
The authors of the study say the amount spent on housing was a surprise, but 25% of retirees 65 to 84 still have a mortgage.
The bottom line of the article..." you really need to evaluate the future value of a dollar spent and a dollar saved today." Well, duhh...
REW
New study quantifies what people spend in retirement
By Robert Powell, MarketWatch
http://www.marketwatch.com/pf/retirement/default.asp?id=3&siteid=mktw
(You will probably need to register to view)
The article quotes a new study showing that typical married adults [whatever that may be] ages 65 and older have annual expenditures totaling $14,792. The top fifth in income have average expenses of $25,567 and the lowest fifth have average expenses of $10,111. [Nothing in the study about the quality of life at these expense levels.]
The breakdown on expenses is:
Housing (includes utilites, taxes, insurance, maintenance) - 29%
Health Care - 20%
Food - 13%
Clothing - 2%
Transportation - 12%
Entertainment - 10%
Gifts - 10%
Other - 4%
The authors of the study say the amount spent on housing was a surprise, but 25% of retirees 65 to 84 still have a mortgage.
The bottom line of the article..." you really need to evaluate the future value of a dollar spent and a dollar saved today." Well, duhh...
REW
Guess I need to hurry up and ER so I can be a full-time poster like you JG. My most sincere Roseanne Rosannadanna ("Nevermind").
