What is your biggest expense in retirement? Ours is health care.Ours has been health care as well. But DW joins me on Medicare in September, dropping our costs more than $12,000 per year (yay! -- more travel!) over what they were before I signed up. Until I started Medicare last year, we had been paying over $1100 per month in insurance premiums for a policy with $1500 deductibles, 30% copays and essentially no drug coverage. Now I pay $1140 per year for my Part B supplemental and something like $400 for Part D, while DW will be getting an Advantage plan with no premiums. And the deductibles are something like $300 and with much smaller copays than 30%. The American taxpayer is certainly being very generous in helping to provide us a more comfortable lifestyle, not to mention the 40% or so of our expenses that are borrowed from the futures of your kids and grandkids Last year travel was our second biggest expense and the year before it was home repair/maintenance, as it might be next year when we spring for a new roof, although travel could win again.--fleg
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