Question

Based on information in the Washington Post article "The retirement costs that are rising faster than Social Security benefits", identify which costs have increased faster than Social Security benefits since the year 2000.

Answer 1

The retirement costs are rising faster than social security benefits .

Step-by-step explanation:

The various costs related to retirement are:

• The travelling costs can increase as the retired people tend to travel often in their idle time.

• The costs related entertainments increase as they have time to engage in their hobbies

• Socialization costs: Socialization ends with eating out alot and this affects the wallet

• Health insurance premiums

• Medical expenses are increasing at a tremendous rate

• The cost of medicines

• Long term care : Continuing long term care is proving to be quite expensive for retired people

• Copays and deductibles