A recent survey of Americans in retirement found frugality. After 19 to 20 years of retirement, the survey found retirees who started with the most assets had only spent about 12 percent of them. The other two groups spent just 24 to 27 percent of their assets during that period. That’s not much. And about a third of retirees had more assets after 18 years than when they first retired.

So why are we so thrifty when we reach the 9th inning?

For Americans, health care costs and long-term care costs in retirement are a major worry, as they are for Canadians. (Remember, American retirees have their own publicly funded medicare program like Canadians).   In a 2017 Society of Actuaries study, 54 percent of retirees worried about health care costs and 59 percent worried about long-term care costs.

The implications of this frugal lifestyle for the family dental practice are already evident. Less frequent visits to the dentist.

And how do we know? Coming to work in Toronto the other day, I saw a billboard pitching cheap implants.

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