One of the biggest questions for people who are transitioning from full-time employment is ‘how does spending change in retirement?’. It is a difficult question to answer, but there is a lot of research out there, which points to some key takeaways.

• Retirees can expect to spend less on food and clothing
• You can expect to spend less on transportation in retirement
• Expect healthcare costs to increase
• Many retirees plan to spend more on gifting
• More favourable tax rules apply to retirees
• Expect your overall spending to remain broadly in line with current spending

I hope it helps.

Thanks