text: I would really like to have some factual examples of  spending of people over 80.     
  
  If these folks think that they will be maintaining their life style past 80 they likely would be candidates for a independent living complex which would drastically reduce their expenses.
  
  Also if their house is worth 900 k today what will it be in 2 years when they retire.   Just a 5% /year bump makes it 992 k  and if they hang on to it for 5 years in retirement.   1.266 M   
  
  Their property taxes will likely be going up as well as cities will be paying their part in infrastructure renewal.
  
  There is no escalation of costs due to carbon tax.   In Toronto they are paying 15-20 less for gasoline than Vancouver.   That will be changing drastically as the carbon taxes are rolled out.
  
  Somewhere in their 80s they will/should be looking at moving into some sort of independent living facility ...