Retired in America

Your Guide to a Confident Retirement

  • Home
  • Personal finance
  • Retirement Life
  • Saving & Spending

11 Major Costs That Will Most Likely Plunge When You Retire

November 23, 2020 · Retirement Life

Most people dream of leaving the workforce and living comfortably in retirement. But when reality sets in, they also realize they’ll still need to pay for a lot of things in retirement without being able to count on a regular paycheck.

Luckily, everything has a silver lining and retirement makes no exception. If you’re worried about running out of cash for your daily expenses in retirement, you will be more than pleased to find out that some of these expenses will decrease considerably. Some might even disappear for good. Curious to know what these are? Then read on to discover 11 major expenses on which you’ll most likely spend less in your golden years! Who said retirement doesn’t have its own perks?

Transportation

It’s no secret that everyday routine can get to you at some point in your life. Apart from being frustrating, it can also eat away at your wallet. Just think about the costs of daily commuting to get to work. Luckily, once you retire, you will be able to do something else with a lot of the money that usually went into getting to and from work.

How much is a lot? Well, according to the U.S. Bureau of Labor Statistics’ recent report on consumer spending, an average household spends around $10,742 a year on transportation costs, as opposed to people aged 65 or more who spend an average of $7,492 per year. You do the math and see how much money you can save on transportation once you exit the workforce!

Pages: 1 2 3 4 5 6

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • What $3,000 a Month Really Looks Like in Retirement Based on Where You Live What $3,000 a Month Really Looks Like in Retirement Based on Where You Live
  • An older couple in casual clothes sitting at a wooden kitchen table, looking at a tablet together in warm natural light. Here's What the Average Social Security Check Is in August (How Do You Compare?)
  • A retired couple walks down a peaceful, tree-lined suburban sidewalk during the warm golden hour. 10 Best Retirement Cities With Peaceful Neighborhoods
  • 10 Small Towns Where Retirees Can Live Like Millionaires 10 Small Towns Where Retirees Can Live Like Millionaires
  • An older veteran looking skeptically at a tablet showing a $10,000 XRP claim, watercolor illustration. American Veterans Are About to Receive $10,000 in XRP From Ripple - More Here!
  • A retired couple standing on a sunny balcony in Europe overlooking a coastal town at sunset. 10 Things to Know About Retiring Abroad
  • A thoughtful 68-year-old man sitting on his porch during golden hour, holding a warm mug. Here's the Average Social Security Benefit of 68-Year-Old Americans (How Do You Compare?)
  • A stylized gouache illustration of a couple walking along a path divided into Taxable, Tax-Deferred, and Tax-Free segments. In What Order Should You Tap Your Retirement Funds? (Find Out Here!)
  • An active retired couple laughing together on a wooden lakeside porch in New Hampshire during a warm autumn morning. The 10 States Where Retirees Receive the Highest Median Social Security Benefit Checks
  • A retired couple hiking hand-in-hand along a scenic desert trail lined with cacti during a warm, golden sunset. 20 Affordable Desert Towns Retirees Are Falling in Love With

Newsletter

Get retirement planning tips, savings strategies, and lifestyle insights delivered to your inbox.

Related Articles

A happy senior couple laughing in a bright, modern living room with large windows.

12 Alternatives to Retirement Homes

Explore 12 practical alternatives to traditional retirement homes, from aging in place and cohousing to…

Read More →

11 Countries to Retire Where $150K Is More Than Enough

In 2020, American retirees were collecting an average monthly Social Security payment of $1,503, which…

Read More →

11 Seniors Worthy of Admiration

Let’s take a moment to sit and ponder: one in seven adults in America today…

Read More →

Reasons You’ll Regret an RV in Retirement

When the children are all grown up and retirement is just around the corner, buying…

Read More →

25 US Cities With the Highest Percentages of Working Seniors

Maybe it’s the high cost of living, the need to remain active or simply professional…

Read More →

10 Do’s and Don’ts You Have to Consider Before Moving During Retirement

If when you think about moving during retirement all sorts of financial alarm bells start…

Read More →

12 Ways to Identify Financial Abuse Against Seniors

A senior carefully examines a bank statement with a magnifying glass to identify potential financial…

Read More →
A retired couple in a sunlit kitchen, one looking at a travel brochure and the other staring out the window, illustrating the shift in relat

8 Things Couples Argue About More After Retirement

Discover the most common sources of conflict for retirement couples and learn practical strategies to…

Read More →
A happy retired couple enjoying a sunny afternoon on their patio, representing financial freedom.

8 Types of Retirement Income That Are Exempt From Taxes

Discover 8 effective retirement tax strategies to generate tax-free retirement income, lower your overall tax…

Read More →
Retired in America

Your Guide to a Confident Retirement

Inedit Agency S.R.L.
Bucharest, Romania

contact@retiredinamerica.com

Trust & Legal

About Us

Editorial Policy

Advertiser Disclosure

Frequently Asked Questions

Contact Us

Disclaimer

Terms and Conditions

Privacy Policy

Subscribe

Unsubscribe

Categories

  • Personal finance
  • Retirement Life
  • Saving & Spending

© 2026 Retired in America. All rights reserved.