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How Much Do People Actually Spend in Retirement?

Understanding your expenses in retirement is one of the biggest challenges most people face as they approach their retirement years. When you retire, you have no idea how much income you need coming in because you don't know exactly how much will you spend in retirement. The US Bureau of Labor Statistics says that the average retirement spending for people between age 65 and age 75 is just over $4,000 per month, but this number's probably going to vary from state to state. The question is, how does that apply to your situation? In today's video, we’ll go through how to understand what your true retirement expenses are and how they impact your overall retirement plan. Learn the tips & strategies to get the most out of life with your money. ⏰ TIMESTAMPS 00:00 - Introduction to Retirement Spending 1:35 - Retirement Expenses 2:48 - Personal Finance 3:55 - Retirement Budget/Planning 5:25 - Retirement Income Strategy 7:05 - Inflation & Expenses 8:00 - Working With Us Free Retirement Checklist Here: https://rootfinancialpartners.lpages.... SUBSCRIBE HERE:    / @rootfp   _ _ For more resources and content, check us out below! Website // https://rootfinancialpartners.com/ Podcast // http://readyforretirement.co/ Instagram //   / rootfinancialpartners   Facebook //   / rootfinancialpartners   LinkedIn //   / 18347030   Other videos we think you'll like: Why I Started Root Financial Partners //    • Why I Started the Ready for Retiremen...   How Would You Feel If You Knew You Could Retire Today? //    • Why I Started the Ready for Retiremen...   What Makes Our Approach Different? //    • Why I Started the Ready for Retiremen...