How Your Spending Is Likely to Change as a Retiree

When planning for retirement, it's important to know how much income you'll need to live on. Estimating this can be hard, though, because you aren't likely to continue spending on the same things you're buying when you're working.

In fact, your spending habits as a retiree can change in important ways that you need to know about when setting your retirement savings goals.

To help you better understand where your money is likely to go in your later years, the Employee Benefit Research Institute (EBRI) provided some data on the changes seniors usually make to their expenditures after leaving the workforce.

Source Fool.com