HOW SENIORS SPEND THEIR RETIREMENT EXPENSES [2019 GUIDE]

It's something every adult understands-saving for retirement is a necessity. But beyond the nebulous idea of "putting money away for later," how much do we really know about the actual costs incurred by American seniors? It's a misconception that spending decreases after retirement; in fact, a study by the Employee Benefit Research Institute shows that 33 percent of all households containing retirees increase their expenses in the six years after they stop working. Whether due to mandatory needs like healthcare or elective spending like travel, seniors have more need than ever to have a handle on their finances and a thorough understanding of income options like life settlements. Following are some of the primary areas where research shows expenses are rising for seniors:

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