Hmm ... do we really spend less after retirement if based on per headcount instead of using total household expenses for married couples with children?
For most people, the biggest drop in expenses after retirement will be mortgage.
But for people like us who have already long ago paid-up our residential property, then per capita expenses in retirement won't really see a big drop compared to the years just before retirement.
Another point which is quite common sense is that the 1st 5-10 years of retirement will in fact see BIGGER per capita expenses.
Why?
Coz now got time & money to enjoy mah! Longer-distance holidays, nicer hotels, splurge at higher end restaurants & spas. Usually after 5 or 10 yrs of this then will be sian of it liao. Yours just got interrupted by Covid. ;)
Hi Uncle8888,
ReplyDeleteFor most people, the biggest drop in expenses after retirement will be mortgage.
But for people like us who have already long ago paid-up our residential property, then per capita expenses in retirement won't really see a big drop compared to the years just before retirement.
Another point which is quite common sense is that the 1st 5-10 years of retirement will in fact see BIGGER per capita expenses.
Why?
Coz now got time & money to enjoy mah! Longer-distance holidays, nicer hotels, splurge at higher end restaurants & spas. Usually after 5 or 10 yrs of this then will be sian of it liao. Yours just got interrupted by Covid. ;)