Fuel prices, and transportation costs generally, are on the rise for all of us. However, it may be retirees that will see the shock first.
Feeling it at the pump.With gas prices on the rise, supply chain costs increasing globally, the push to purchase new electric vehicles, combined with the impact of rising transportation costs in nearly everything we buy, or experience, transportation must now come out from the shadows of retirement planning and be factored into the budgets and the lifestyle choices of later life.The vast majority of Americans over 50-years old live in suburban or rural areas.
an additional $30 to $60 should be factored into your monthly bill. Of course, these costs should be assessed in the context of fewer trips, if any, to the gas station.While daily trips to grocery stores, restaurants, friends, shopping, and medical trips are a routine cost, travel generally is a major part of retirement. How will rising transportation costs affect your retirement travel plans?. Suddenly travel is more expensive.