Early Retirement Expenses: Recreation-Travel Impact
Question:
Which of these personal expenses are likely to increase during the early portion of retirement?
I. Recreation
II. Clothing
III. Travel
IV. Housing
A) I and III
B) I and II
C) II and III
D) III and IV
Answer: A) I and III
Description: During the early portion of retirement, personal expenses related to recreation and travel are likely to increase. Many retirees use this time to engage in leisure activities and travel more frequently, often leading to higher expenditures in these areas. Conversely, expenses related to clothing and housing might not see as significant an increase, as retirees often experience changes in their lifestyle and needs that can affect these costs differently.
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