Surprising retirement costs

February 6, 2019

Transportation ranks second among the top five retirement costs according to the Bureau of Labor Statistics. Head of households age 65 and older spend an average of $7,100 a year on vehicle purchases, fuel, maintenance, insurance and other transportation services.

A common assumption is that people will travel less in retirement, but today’s retirees travel more than previous generations and prefer driving as their primary transportation mode. Transportation is a vital part of an active retirement.

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