There are a lot of reasons why retirees could wind up spending less money aside form 'hoarding'. For one thing, retirees often have paid off their homes, and h

There are a lot of reasons why retirees could wind up spending less money aside form 'hoarding'. For one thing, retirees often have paid off their homes, and have no mortgage payments. In addition to that, having a daily job entails a lot of soft costs that often go unnoticed - without your daily commute, your car (and tank of gas) will last a lot longer, you won't eat out for lunch as often, and even your wardrobe will likely stretch further. If my grandfather and father in law are any indication, the extra time around the house also mean that you can do a lot of work on your house yourself that you may have had to pay a plumber, carpenter, or electrician to do before. Basically, a retired person can generally maintain their lifestyle on less money than a working person...