This Expense Costs Retirees an Average of $7,472 Each Year - The Motley Fool

This Expense Costs Retirees an Average of $7,472 Each Year The Motley Fool

It's natural to assume that our living costs will go down in retirement, though perhaps not as drastically as we'd like them to. And if there's one expense that many seniors expect to slash, it's transportation. That's because retirees who stop going to work get to unload the burden of paying to commute, and that could amount to a substantial level of savings. Still, that doesn't mean that transportation is a cheap prospect for seniors. The average retiree spends $7,472 a year on costs such as automobile maintenance, car insurance, and fuel. Meanwhile, average annual spending on transportat...