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Retirement Spending

How Retirement Spending Changes With Time

Submitted by Ferguson Financial Inc. on March 10th, 2018

 

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Once away from work, your cost of living may rise before it falls.

 

Provided by Greg Ferguson

 

New retirees sometimes worry that they are spending too much, too soon. Should they scale back? Are they at risk of outliving their money? 

 

This concern is legitimate. Many households “live it up” and spend more than they anticipate as retirement starts to unfold. In ten or twenty years, though, they may not spend nearly as much.1

 

The initial stage of retirement can be expensive. Looking at mere data, it may not seem that way. The most recent Bureau of Labor Statistics figures show average spending of $60,076 per year for households headed by Americans age 55-64 and mean spending of just $45,221 for households headed by people age 65 and older.1,2

 

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How Much Will You Spend When You Retire?

Submitted by Ferguson Financial Inc. on January 17th, 2017

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Retirees Should Have Spending Plans

Submitted by Ferguson Financial Inc. on October 31st, 2016
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Are Your Kids Delaying Your Retirement?

Submitted by Ferguson Financial Inc. on May 23rd, 2015

Are you providing some financial support to your adult children? Has that hurt your retirement prospects?

 

It seems that the wealthier you are, the greater your chances of lending a helping hand to your kids. Pew Research Center data compiled in late 2014 revealed that 38% of American parents had given financial assistance to their grown children in the past 12 months, including 73% of higher-income parents.1

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