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The Top 5 Reasons Seniors Stay Frugal in Retirement

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The Top 5 Reasons Seniors Stay Frugal in Retirement


Senior protecting his cash
Photo by Krakenimages.com / Shutterstock.com

Countless workers scrimp and save for years with the goal of enjoying a comfortable retirement. Many of those folks do not abandon their penny-pinching ways once their golden years finally arrive. Surprisingly, fear of running out of money is not the No. 1 factor that drives retirees to stay frugal, according to the Employee Benefit Research Institute’s (EBRI’s) Spending in Retirement Survey.

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