5 Biggest Expenses for Retirees and How to Minimize Them

This article takes a look at the 5 biggest expenses for retirees and how to minimize them. If you wish to check out our detailed analysis, you may go to 12 Biggest Expenses for Retirees and How to Minimize them.

5. Essential Services and Utilities

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Number five on our list of biggest expenses for retirees is essential services and utilities. It’s true that the smallest expenses can sometimes turn out to be the biggest, which is exactly the case with this expense head. Aspects like utilities, fuel, and public services eat up around $4,236 annually for seniors aged 65 and over. One major way retirees can reduce their utilities is by downsizing. Moving to a smaller home, preferably near amenities can significantly help retirees cut down on their fuel and utilities costs.