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Thats about $4,589 per month.
Of course, this includes everything from food and transportation to housing and entertainment.
Some people spend much less than this, while others spend more.
These are some of the top expenses that youmight want to keep in retirement, and why.
If youre worried about money, there are ways to reduce costs while still getting high-quality, healthy food.
Not only will it keep you active, but it can also keep you healthy.
Physical fitness is also key to enjoying your retirement years and minimizing your medical expenses.
Youre likely killing two birds with one stone there: fitness and socializing.
Social Ties
Retirement can be an exciting new stage in life.
But unless you prefer solitude, it can also be less fulfilling if you cut out those social ties.
Keep your social ties!
This provides social and cognitive stimulation that is invaluable.
You dont have to spend a ton of money to keep an active social life.
There are also plenty of ways to maintain social ties without spending a lot of money, Seery said.
Retirement does not have to mean cutting all social ties entirely to save money.
Look intolocal or community activities.
Or pick up hobbies that dont require a ton of new equipment or classes to get started.
Your Living Space
If youre ready to downsize not just financially but emotionally then go for it.
Put your house on the market and move into a smaller one.
Or relocate to a cheaper neighborhood or acommunity living spacethat works better for you.
But if youre not completely prepared, you might want to hold off on this until you are.
Weigh the costs and benefits before making any life-changing decisions.
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