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11/20/2014 10:43 am ET Updated Nov 20, 2014

How To Cut Your Single Biggest Retirement Expense

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The single biggest expense you face in retirement is housing, which accounts for more than 40% of spending for people 65 and older, according to the Employee Benefit Research Institute. Yet all too often, you end up shelling out those bucks for places that don’t serve your needs well as you age.

By age 85, for example, two-thirds of people have some type of disability. If you can’t get around your house or community or you don’t have easy access to the medical and social services you need, you could land in a costly nursing home prematurely,

Read more on TIME

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