Irrational Expectations

Fundamentals of Market Investing by Adam J. McKee

Many people assume they will be able to get by on less money in retirement once they give up commuting and work clothes.  Some 58% of workers expect to spend less money in retirement than they do now, and just under half (48%) of retirees report they were able to decrease spending.  However, not everyone is able to cut costs.  You may encounter new expenses in retirement.  Some 30% percent of retirees say their spending in retirement is unchanged from their working years, and 21% percent of retirees experienced an increase in spending.

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