Core Insights - A survey indicates that retirees expect to need an average of $823,000 in savings and investments for a comfortable retirement in 2026, but only 23% have $500,000 or more saved [1] Spending Trends - Many retirees are experiencing higher expenses than anticipated, particularly in groceries, insurance premiums, property taxes, and medical care [2] Groceries - 67% of retirees reported spending more than planned on groceries, with 27% indicating they are spending "significantly more" [3] - Food prices have increased over 18% since 2022, impacting retirees on fixed incomes [4] Insurance Premiums - 60% of retirees indicated they are paying more than expected on home, health, and auto insurance premiums, with 22% reporting substantial additional expenses [5] Property Taxes - 43% of retirees reported higher-than-expected spending on property taxes, which vary significantly by state [7] Medical Care - 37% of retirees are spending more than anticipated on medical care, including prescriptions, with 15% struggling to pay medical bills [8] Budgeting and Financial Support - 39% of retirees do not adhere to a strict budget, and 35% have provided financial support to their children or grandchildren since retiring [6]