Episode 43 - More Confirmation of REAL Retirement Spending

In this episode, we discuss an article on Fox Business News titled "Why are retirees living longer, healthier and wealthier lives?" This article confirms that retirees spend LESS than they've been lead to believe in retirement. Also, it goes on to state that the cognitive and physical limitations for current retirees are much lower than they were for retirees 50 years ago. So, longer lives, less physical and cognitive impairment combined with a savings deficiency should indicate a "crisis", no? Well, no. "Fellowes: The average retiree cuts their spending by about 2 percent every year throughout their retirement. The biggest drop over time is spending on lifestyle expenses, like travel, apparel and entertainment; but, essential spending on transportation and housing falls too, as retirees pay off their mortgages...Healthcare is one of the only expenses that tends to increase through retirement, although it tends to increase increase incrementally for nearly all retirees. "