Truth and Social Security
Many people nearing retirement are looking forward to decreased living expenses and living off the government dole. However, Social Security and retirement may hold many surprises that you should be preparing for. Many experts, to the delight of those nearing retirement, say that living in retirement comes with greatly decreased expenditures in everyday life. It is true to some degree, however this also assumes that you take on a different living pattern. It’s assumed you will go out less meaning that you will see decreases in spending in areas such as gas and entertainment and non-grocery foods. You will also take on new expenses as time goes on in the form of medical bills, and trying to keep up with the rate of inflation on everyday items. For more information on this subject, visit this article by Maurie Backman with The Motley Fool.