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In this issue

Jonathan Tobin: Defending the Right to a Jewish State

Heather Hale: Compliment your kids without giving them big heads

Megan Shauri: 10 ways you are ruining your own happiness

Carolyn Bigda: 8 Best Dividend Stocks for 2015

Kiplinger's Personal Finance editors: 7 Things You Didn't Know About Paying Off Student Loans

Samantha Olson: The Crucial Mistake 55% Of Parents Are Making At Their Baby's Bedtime

Densie Well, Ph.D., R.D. Open your eyes to yellow vegetables

The Kosher Gourmet by Megan Gordon With its colorful cache of purples and oranges and reds, COLLARD GREEN SLAW is a marvelous mood booster --- not to mention just downright delish
April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review

6 Ways Spending Changes in Retirement

By Emily Brandon





Most people spend less money in retirement. Here's what they cut from their budget


JewishWorldReview.com | (USNWR) Most people spend less money in retirement than they did while they were working. Retired households spend a median of $31,365 annually, which is about 80 percent of the $39,945 working households spend, according to a recent Employee Benefit Research Institute (EBRI) analysis of Health and Retirement Study data. Annual expenses also decline steadily with age, falling by 19 percent between ages 65 and 75, and plunging 52 percent by age 95. The majority of study participants (66 percent) experienced a drop in retirement spending, while 16 percent of the households spent more money in retirement.

Retirees have lower expenses largely because they are able to eliminate work-related costs like commuting and office attire, and they no longer have to pay FICA taxes or save for retirement. But retirees often spend more on healthcare than people who are still in the workforce, especially if they develop a significant health problem that requires long-term care. Here's a look at the major ways costs change in retirement:

Housing. Housing is the single largest expense for both workers and retirees. Home-related expenses represent 47 percent of all costs for people ages 50 to 64, which declines to 44 percent between ages 65 and 74. "People probably finish paying off their mortgages, so they don't have to pay the mortgage anymore," says Sudipto Banerjee, a research associate at EBRI and author of the report. Downsizing to a less expensive house or condo or moving to a cheaper part of the country can also significantly decrease your housing expenses in retirement.


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Healthcare. Health-related expenses are the only major cost that increases steadily and significantly with age. Health costs represent about 9 percent of most people's budget between ages 50 and 64. This number doubles to 18 percent after age 85. "As their health declines, it means more care and the cost of healthcare itself is increasing. The same amount of care costs more now," says Banerjee. "If you have to go into a nursing home or enter into some form of long-term care, that is going to significantly increase your expenses."

Transportation. You no longer need to commute to work in retirement. Transportation costs drop from 14 percent of the budget of 50- to 64-year-olds to 8 percent for those 85 and older. Couples who previously needed two cars can often get by with one.

Food and clothing. People tend to spend the same share of their income on food (12 percent) and clothing (3 percent) in retirement as they did while working. But there's certainly room to make cuts if you trade in your suits for jeans and eat more of your meals at home.

Gifts and donations. When grandchildren are born, many retirees spend more on gifts and trips to see them. Some retirees also plan bequests to relatives or charities. "The budget shares spent on donations and gifts go up a lot with age," says Susann Rohwedder, associate director of the RAND Center for the Study of Aging. "As people age, they may start to think they really don't need that money and might start to give it away."

Entertainment. Retirees enjoy eight or more extra hours of free time each day than they did while working. Some retirees immediately begin traveling or take up expensive new hobbies. "Some people spend a lot of money because they have these pent-up projects around the house to address or they want to do traveling that they never had time to do," says Michael Haubrich, a certified financial planner for Financial Service Group in Racine, Wis.

The budget share spent on entertainment generally remains the same in the early stages of retirement, then tapers off in the later years, EBRI found. People ages 65 to 74 spent 9 percent of their budget on entertainment in 2009, about the same as older workers between the ages of 50 to 64. But these costs decline later in retirement. "If you are not in good health, then you are not able to do those things and that brings your costs down," says Banerjee.

How retirees choose to fill their newfound hours of leisure time can make a big difference in their retirement security. "They can either spend this time on activities around the house that reduce overall spending, such as doing more home repairs yourself, preparing more meals at home, doing your own cleaning rather than getting someone else to do the cleaning, and going out and looking for deals and smart spending opportunities, or they could spend this time traveling or entertaining—and that takes money," says Rohwedder. "It very much depends on what people do with their newly gained time."

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