10. Housing
As we already stated, The Bureau of Labor Statistics shows that 61.7% of Americans aged 65 to 74 don’t have any mortgage debt, while 82.5% of Americans ages 75 and older don’t have a mortgage. Are you among the fortunate ones?
Yes, retirement expenses also include housing costs. Even if you’re mortgage-free, you’ll still have to pay for property taxes, utilities and home maintenance. Some folks even consider downsizing in retirement to have their costs reduced.
Americans who are between 55 and 64 spend about $18,006 per year on housing. This amount drops to $15,838 for those aged 65 to 74, and it decreases further to $13,375 for individuals aged 65 and older.
Besides retirement expenses, if you want to know more about taxes in retirement, you may want to read this article: This Is How All 50 States Tax Your Retirement Income!
2 thoughts on “10 Retirement Expenses You Don’t Have To Worry About”
With the foo\ssil Biden in the white house you would be a fool to drink the koolaid and believe that any left coast city is a good place to retire. The only sane place to retire is florida under the competent leadership of ron desantis
none of these were new or useful as i have learned to live with retirement and how to save on most every thing.