Skip to content

Be financially ready for hurricane season. Access funds when you need them with a Home Equity Line of Credit (HELOC). Loans subject to credit approval. NMLS #406389 

Get Started 863-222-7005

Chart of the Day: Retiree Spending

Pie chart breaking down average U.S. retiree spending by category such as housing, transportation and health care.

Contents

Today’s Chart of the Day from The Motley Fool breaks down key data on retirement spending.

The U.S. Census Bureau reported a median annual income of roughly $48,000 per retired individual, including social security.

Major expenses, like housing, can vary significantly depending on whether retirees rent, carry a mortgage, or own their homes outright.

The chart notes that only 5.4% of spending is allocated to entertainment, a figure that may seem surprisingly low given the amount of effort it takes to reach a stage of life with increased leisure time.

As a result, carefully evaluating factors such as living arrangements, expected income, and recurring expenses is essential to building a financial plan that supports the comfortable and rewarding retirement you’ve earned.