I do think the possibility for lower expenses, at least in later retirement, for housing, food, travel, entertainment, etc. are still going to be there if the money gets low. But I don't think these will just happen because of the aging process. They happen because quality of life is allowed to deteriorate, beyond what can't be helped from aging. Maintaining quality of life, when you can do less yourself, costs a lot. I think my in-laws, and many of that generation, don't recognize ways in which quality of life is deteriorating, other than what is attributable to aging—something as simple as, if you are too tired to cook, you could order out. Changing these attitudes is going to cost a lot of money, and my retirement planning requires saving enough to maintain quality of life with these different attitudes, which are more than just staying alive.I hope your plans work out but looking at my in-laws I wouldn't count on it. Your description of your in-laws is very familiar, but with my in-laws, that kind of behavior was due to metal deterioration. It appears with age most of us lose not only our short-term memory but also our ability to think and reason. This is gradual but can start fairly early in retirement if not before. This along with, our savings being taken away to pay for those who don't save (That is what our government has been doing and continues to do: returns on investment get quietly taxed away by our government's printing press and we don't complain) makes me question any form of planning. Maybe it is better to spend today and not worry about what happens latter in life. Doesn't the data sort of indicates that is the consensus thinking?
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