Expenditures of the Aged Chartbook

[kd2008]

Social Security periodically releases detailed data on the expenditures of the Aged (literally their term)

https://www.ssa.gov/policy/docs/chartbo ... tml#source

The latest is from 2020 released Jan 2022. Social Security has done a fantastic job of compiling this information.

Our spending has been at average or a bit above it from the consumer finance survey for younger families.

This is the first time I have come across one that is focused on the seniors that has such granular data. Hope it is useful to some that are grappling to understand future spending in retirement.

https://www.ssa.gov/policy/docs/chartbo ... page32.svg

The chart above was useful to me.

Another nugget that was useful - healthcare expenses.

Of the total dollars spent on healthcare - 75% went towards insurance, 25% went towards out of pocket costs.

[Admonition: If you spend $150K-200K or more per year, please refrain from polluting the thread by remarking how it doesn't seem real or not applicable to you. Thank you]

[delamer]

Thanks for posting; I had not seen these data before.

The Consumer Expenditure Survey data are used to calculate the weights for the CPI.

Note that expenditures don’t include income taxes.

It’s sad that the average expenditure on tobacco is greater than it is for reading materials. But by the time my adult kids are that age, both numbers may be close to zero!