Title: Average Monthly Costs for Retirees: A Breakdown of Housing, Food, and Other Expenses
Article Snip: "... According to the latest available federal data, which is from 2023, the total annual spending for individuals aged 65 and older in the United States averaged $60,087.1 This comes out to just over $5,000 per month. By far the biggest spending categories were housing, food, transportation, and healthcare. However, those 65 and older—many of whom are retired, but some who may not be—are also spending a significant portion of their income on entertainment.
To develop your own spending plan for retirement, see how ..."
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