Biggest Expense at Age 70 is NOT Healthcare: Securian Study

Taxes, not health care, are retirees' biggest expense when they're in their 70s, according to research commissioned by Securian Financial Group, Inc.

"We speculated that taxes consume a bigger slice of retirees' spending pie and wanted to either confirm or refute that with research," said Michelle Hall, manager, Marketing Research. Securian contracted with Spectrem Group to survey 225 retirees between the ages of 70 1/2 and 75 in August 2008 about their income and expenses. Respondents had a net worth of at least $1 million.

Biggest Expense at Age 70 is NOT Healthcare: Securian Study
Source: PR Newswire