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GOBankingRates’ editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services – our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines<\/a> and our products and services review methodology<\/a>.<\/p>\n 20 Years<\/strong> Trusted by<\/strong> Turning 70 can feel like hitting a comfortable groove, but that doesn\u2019t mean the bills stop coming. While some retirees<\/a> may have paid off their mortgage or downsized, expenses like healthcare, home maintenance and everyday costs still add up. <\/p>\n Knowing what the average retiree spends each month<\/a> can make it easier to budget wisely and enjoy this next chapter with a little more peace of mind.<\/p>\n Average Monthly Spending: Around $5,400<\/p>\n According to the Consumer Expenditure Surveys<\/a> (CE) program from the U.S. Bureau of Labor Statistics, the average retired household spends roughly $5,400 per month or about $65,000 annually. This encompasses essential and discretionary categories like housing, healthcare, food, transportation and more.<\/p>\n<\/p>\n Breakdown of Major Expenses<\/p>\n Here\u2019s how average monthly expenses typically break down, according to the data collected in the Consumer Expenditure Surveys (CE) program.<\/p>\n Together, these five categories typically account for about 75% to 85% of a retiree\u2019s monthly spending.<\/p>\n Lifestyle Spending and Discretion<\/p>\n Beyond the essentials, many retirees also budget<\/a> for activities and purchases that add enjoyment and comfort to daily life. Here\u2019s a look at some common lifestyle expenses.<\/p>\n Variations by Income and Age<\/p>\n Spending usually declines with age. According to BLS data, total yearly expenditures fell from $83,379 for ages 55 to 64 to $65,149 for those aged 65 to 74. When living costs<\/a> drop, such as paying off a mortgage or downsizing, retirees may see significant monthly savings<\/a>.<\/p>\n Budget Snapshot for a 70-Year-Old Middle-Class Retiree<\/p>\n Below is what a typical monthly budget might look like.<\/p>\n<\/p>\n Considerations and Planning Tips<\/p>\n A 70-year-old middle-class retiree typically spends around $5,400 per month, with housing, healthcare, food and transportation making up most of the budget. Understanding where the money goes and how spending changes with age helps retirees better align their savings and lifestyle goals and ensures they don\u2019t run out of money too quickly<\/a>. By planning thoughtfully, staying flexible and adjusting for healthcare and longevity, retirees can enjoy financial confidence well into their golden years.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"ProfessionalStudioImages \/ iStock.com Commitment to Our Readers GOBankingRates’ editorial team is committed to bringing you unbiased reviews and…\n","protected":false},"author":3,"featured_media":89888,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[64,8726,255,615,700,67,132,68],"class_list":{"0":"post-89887","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-gobankingrates","10":"tag-personal-finance","11":"tag-planning","12":"tag-retirement","13":"tag-united-states","14":"tag-unitedstates","15":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114910833274354290","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/89887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=89887"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/89887\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/89888"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=89887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=89887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=89887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/cdn.gobankingrates.com\/wp-content\/uploads\/2023\/11\/icon-20.svg?webp=1&quality=75\"){kind=icon}
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\n Category<\/strong><\/td>\n Monthly Amount<\/strong><\/td>\n<\/tr>\n \n Housing<\/td>\n $1,850<\/td>\n<\/tr>\n \n Healthcare<\/td>\n $650<\/td>\n<\/tr>\n \n Food<\/td>\n $700<\/td>\n<\/tr>\n \n Transportation<\/td>\n $900<\/td>\n<\/tr>\n \n Utilities and Services<\/td>\n $370<\/td>\n<\/tr>\n \n Entertainment and Hobbies<\/td>\n $280<\/td>\n<\/tr>\n \n Other (clothing\/misc)<\/td>\n $300<\/td>\n<\/tr>\n \n Total<\/strong><\/td>\n $<\/strong>5,050<\/td>\n<\/tr>\n \n