Do Old People Spend More Than Youths?
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Re: Do Old People Spend More Than Youths?
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What age are they retiring at? How is their health? Are they good at living within a budget, or do they always spend more than they have?
I think the main reason, as others have stated, that people are encouraged to save is so they can maintain their lifestyle to a degree when they retire. So they're expected to spend about the same, maybe a little more or less.
However, youths' spending also varies greatly. Especially in today's economy, more and more people are living paycheck to paycheck, just with the basics. Others might be comfortable, and are able to both save and spend extra.