You will spend less in retirement

This is one of the biggest financial myths about retirement, one that is “destroying people’s chances for a secure retirement,” warns financial security expert and New York Times best-selling author Pamela Yellen.

It’s true that retirees can get certain discounts as part of senior programs offered by various businesses but the truth is the most important costs will most likely increase, not decrease. Utility bills, groceries home or car insurance will only become more expensive with the passing of years, not cheaper. Not to mention healthcare costs which usually take a big chunk of a retiree’s income, Medicare coverage or not.

To avoid being caught off guard, check out these 10 Things You’ll Spend A Lot On In Retirement!