I’m Approaching The Most Expensive Year Of My Life

NEW BIFOCALS?

Life can be expensive at any age...right? Recently, I learned that a new study found that 50 is the most expensive year of your life! Surely not! Then I realized...wow! It could be! I'm 48 and I picked up my first pair of progressive bifocal glasses a couple weeks ago....Aside from the blow to my ego that I needed bifocals in the first place, those darn glasses were quite costly!

My Fiance Bob is 50...Is this going to be the most expensive year of his life? It could be! He picked up his first pair of bifocals a few weeks ago too! Not only that, he's now looking at purchasing a new home, and of course, planning to take on more responsibilities with my two youngest sons.

WHY 50 IS SO COSTLY

So why is 50 the most expensive age on average? According to studies, all of life's biggest expenses collide at this age...you're still paying for your children, but now add to that more expensive health care and insurance. Plus, you may still be paying for your own mortgage, AND many people are now helping out their parents financially as well.

The average 50 year old's life will cost them about $41,000 for the year, and life will continue to stay at that expense throughout most of your 50s.

THE GOOD NEWS...  REALLY?

There is some light at the end of the tunnel...even though it's the tunnel of aging. The closer we get to 60, our lives will typically start to cost us less...Around $30,000 a year. The costs drop because in theory, you shouldn't be supporting your kids anymore...and hopefully your mortgage is paid off.