What the Average Retiree Spends Each Month -- and How You Compare
Older Americans are paying about the same as everyone else is on a per-capita basis, except for one particular (but not surprising) expense.
What the Average Retiree Spends Each Month -- and How You Compare
Overview
Life's expensive for everyone in the United States these days. Blame recently accelerating inflation, of course. For retirees dependent on Social Security and retirement savings, however, money feels even tighter. Their income just hasn't kept up with the recent surge in inflation.
And this begs the question: How much are the nation's retirees spending every month just to survive? Here's a look.
Details
The data comes from the Bureau of Labor Statistics' most recent (2024) survey of consumer expenditures, which of course has changed somewhat since then. More specifically, most of these costs have grown at least a little bit in the meantime. Also know that these numbers reflect households -- not individuals -- that are home to an average of 1.8 people with at least one aged 65 and up. Be sure to adjust accordingly for a household of only one person, or more than two.
Source
Originally published at www.fool.com.
