Retirement Spending: 9 Things Even Spendthrifts Don’t Waste Money On

Core Insights - Many retirees, despite having a fixed income, find ways to manage their spending, with some having more flexibility in their budgets [1][2] Spending Habits of Retirees - Extended warranties and optional insurance products are often avoided by retirees, as they evaluate the cost versus actual risk and find them not cost-effective [3] - Luxury cars, which can cost between $80,000 to $100,000, are generally skipped due to rapid depreciation and high maintenance costs, leading retirees to prefer more economical vehicles [4] - Retirees tend to avoid the latest gadgets, opting for technology that meets essential needs rather than frequently upgrading to new models, thus preventing rapid depreciation [5] - Timeshares and vacation memberships are also commonly avoided due to high fees and the difficulty associated with exiting these agreements [6]