Homeowning pensioners splurge early in retirement

Pensioners who own their own home are front-loading their retirement spending, before spending less in later life. How much will you need?

Young pensioners on bike ride
(Image credit: Flashpop via Getty Images)

Pensioners who own their own home are spending big in an effort to enjoy the early years of their retirement, new research suggests, before reigning it in as they get older. Meanwhile, renters spend more consistently throughout their golden years.

Homeowners spend an average £346 per head each week between the ages of 65-69, according to a new report from former pensions minister Sir Steve Webb and the University of Bath. This drops to £248 by the time they turn 85 – a decrease of almost 30%.

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Katie Williams
Staff Writer

Katie has a background in investment writing and is interested in everything to do with personal finance, politics, and investing. She enjoys translating complex topics into easy-to-understand stories to help people make the most of their money.

Katie believes investing shouldn’t be complicated, and that demystifying it can help normal people improve their lives.

Before joining the MoneyWeek team, Katie worked as an investment writer at Invesco, a global asset management firm. She joined the company as a graduate in 2019. While there, she wrote about the global economy, bond markets, alternative investments and UK equities.

Katie loves writing and studied English at the University of Cambridge. Outside of work, she enjoys going to the theatre, reading novels, travelling and trying new restaurants with friends.