Many retirees overspend, but most have enough to cover emergencies

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For people who are already retired, inflation eats away at their pension. New data from the Institute for Employee Benefit Research shows that retirees are less satisfied than they were two years ago.

About 43 percent say they have cut back on their discretionary spending.

Research shows that retirees spend more on housing and health care than they budgeted for. It made some people go *back* to work.

About a third of retirees say that they got a job after retirement. In most cases, this is to get more money to prepare for an emergency, but there are other signs that retirees are doing well financially.

Nearly 70 percent in a new survey say they could cover three months’ worth of expenses if needed.

And more than half say that they are materially wealthy until at least 90 years old.

Source by [author_name]

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