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Chart of the Day: Retiree Spending

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.