We all dream of a retirement, filled with exotic vacations, fancy cars, and expensive clothes.While some successful individuals and savvy savers actually get there, the actual data shows that the opposite is true.
HS Dent, an economic forecasting firm, compiled Census data spending behaviour and presented them as demand curves, which measure average annual expenditure for a given product over age.
HS Dent’s charts couldn’t be more simple, but we can’t stop looking at them. They offer an elegant glimpse into how spending really evolves over time.
What are some things we learned? Well, as we mature we use a lot less plastic cutlery. But our towels get a lot older and cheaper. Not surprisingly, alcohol consumption is pretty steady from ages 20 to 70. And it looks like we do all of our vacationing long before retirement.
These charts require a little imagination on your part. But the process is definitely a very interesting exercise of the mind.
NOTE: All of the commentary is our own and not the analysis of HS Dent.