walkinwood
Thinks s/he gets paid by the post
I have linked to articles (thanks to the Oblivious Investor for the initial links) that discuss if our expenses in retirement will stay flat (inflation adjusted), rise or fall with time.
Will Your Income Needs Trend Down as You Age?
How Do Spending Needs Evolve During Retirement?
For those familiar with Bernicke (highly recommend reading his paper), the argument for trending down of expenses will be familiar.
James Shambo argues that expenses might very well go up to keep up with the increasing standard of living. He introduces a Hedonic Pleasure Index which is quite interesting. I got the original from my library online research page, but couldn't find it on the web.
Hedonic Pleasure Index: Going beyond the CPI - MarketWatch
I think it is worthwhile to follow these developments & understand them, but ymmv. Also, people on this forum are very conscious of their spending, so we may be very different from the average.
Will Your Income Needs Trend Down as You Age?
How Do Spending Needs Evolve During Retirement?
For those familiar with Bernicke (highly recommend reading his paper), the argument for trending down of expenses will be familiar.
James Shambo argues that expenses might very well go up to keep up with the increasing standard of living. He introduces a Hedonic Pleasure Index which is quite interesting. I got the original from my library online research page, but couldn't find it on the web.
Hedonic Pleasure Index: Going beyond the CPI - MarketWatch
I think it is worthwhile to follow these developments & understand them, but ymmv. Also, people on this forum are very conscious of their spending, so we may be very different from the average.