5 Biggest Expenses for Retirees and How to Minimize Them

1. Housing

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Everything from property taxes and home maintenance costs to mortgages eats up a significant chunk of retiree’s incomes. These home costs account for 35% of a retiree’s average annual expenditures, according to BLS figures. Strategies to reduce these expenses include downsizing to a less expensive home, relocating to an area with a lower cost of living, and reducing utility costs.

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