Contrary to what many of us have been led to believe, being retired doesn’t necessarily mean spending less. A report by the Employee Benefit Research Institute found that 46% of seniors spend more money during their first two years of retirement than during their working years. Meanwhile, 33% of households uphold this spending pattern for six years into retirement.
Source: USA Today article
Spending more in retirement until age slows one down is quite expected in my view. This is even more to be expected if retirement is entered with an existing mortgage or other major obligation.
Spending in retirement should also include ongoing saving to maintain a fund for emergencies so that such spending does not force unplanned withdrawals from retirement assets. That’s my experience in any case.