5 Biggest Expenses for Retirees and How to Minimize Them

4. Transportation

Insider Monkey Score: 18

AARP says transportation is one of the most important expenses of retirement, but also the one that is least considered. As seniors age, they become more inclined to use services and public transportation to get to places. While there are yet many seniors who prefer to drive their own cars, there is always the cost of fuel and other related expenses. Either way, transportation is going to be a major expense for retirees, eating away 14% of their average annual expenditure.