Unsurprisingly, the study found that people with pensions or annuities can afford significantly more than those without. The average retiree with a pension spends 39 percent more than those without a pension ($2,379 compared with $1,709), and just 20.5 percent less than preretirees. (Photo: Shutterstock)
So much for the notion that it will cost less to live in retirement.
With 39 percent of U.S. retirees spending more than they expected now that they're out of the job and 49 percent of consumers age 40+ believing that planning for retirement is tougher for them than it was for their parents, it would seem that what might have appeared a slam-dunk is actually something quite different.
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
