U.S. Retiree Households Spend $5,119 a Month as Healthcare Tops Average at $650
Updated
Updated · The Motley Fool · Jun 23
U.S. Retiree Households Spend $5,119 a Month as Healthcare Tops Average at $650
3 articles · Updated · The Motley Fool · Jun 23
Summary
$5,119 in average monthly expenses left retiree households with just a $503 gap versus $5,622 in income, according to the latest 2024 Bureau of Labor Statistics spending survey.
Healthcare stood out as retirees' biggest relative burden at $650 a month, topping the $516 average for all U.S. households even though retiree households are smaller on average.
Housing remained retirees' largest dollar expense at $1,849, followed by transportation at $795 and food at $662, with spending below national household averages in nearly every other major category.
The figures cover households with at least one person age 65 or older and an average 1.8 residents, underscoring how faster inflation and lagging Social Security or savings income are tightening budgets.