Everyone's needs are different when it comes to getting ready for retirement. That’s particularly true when it comes to expenses. Some may seem to be essential to some, while to others these may be considered luxuries. Learn what is now considered a basic expense in retirement.
When you hear the term “basic expenses” you may think about the cost of housing, healthcare, food, and things of that nature. Today’s seniors, however, may also consider technology an essential item on their retirement expense list:
Consumers generally don’t change a lot over time in terms of how they view the broad classification of basic expenses vs. luxuries. But they do shift. Overall, about half of pre-retirees and just over a third of retirees say they have changed their views over the past 10 years.