POST 50
03/14/2012 09:44 am ET

6 Ways Spending Changes In Retirement

Most people spend less money in retirement than they did while they were working. Retired households spend a median of $31,365 annually, which is about 80 percent of the $39,945 working households spend, according to a recent Employee Benefit Research Institute (EBRI) analysis of Health and Retirement Study data. Annual expenses also decline steadily with age, falling by 19 percent between ages 65 and 75, and plunging 52 percent by age 95. The majority of study participants (66 percent) experienced a drop in retirement spending, while 16 percent of the households spent more money in retirement.

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