Why Retirement Makes Seniors Frugal

Most seniors aren't living large in retirement. However, that's not necessarily because they lack the money to do so.
"Those who have higher incomes are generally living too frugally," says Matt Fellowes, founder and CEO of United Income. Seniors trim an average of 2.5 percent off their spending each year, according to a white paper he drafted examining data from the government and University of Michigan. Meanwhile, estate values grew 130 percent between 2000-2002 and 2010-2012.