How to Cut Your Largest Expense in Retirement
Housing is most retirees' largest expense, as it is for most working adults. The average household headed by an adult 65 or older spends nearly $50,000 per year, according to the latest Bureau of Labor Statistics data, and of that, nearly $17,000 -- 34% -- goes toward housing.
It isn't difficult to figure out where all that money goes: rent or a mortgage payment, then there's insurance, property taxes, maintenance, and utility costs. Even the most frugal among us can't avoid spending thousands of dollars per year just to keep a roof over our heads, but there are ways you can lower these costs.
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Source Fool.com
