For many, retirement is the coveted goal post at the end of a rewarding career.
It allots more time to spend with family and in the comforts of home. Though it represents the end of full-time work, it does not always mean never working another day.
The 2022 Spending in Retirement Survey examined the spending habits and income of 2,000 American retirees, ages 62-75. The survey found that 7 in 10 retirees depend on Social Security as the major source of their income. The survey also revealed that 1 in 3 of those individuals spends between $2,000 and $3,999 on living expenses monthly.
