Retirement Spending Expenditures
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| Senior Spending Patterns for Reality Retirement Planning | ||||||
| Characteristics: | Age 55-64 | Age 65-74 | Age 75 & Older | |||
| Income before taxes ... | $61,031 | $42,137 | $28,028 | |||
| Average number in consumer unit: | ||||||
| Persons ... | 2.1 | 1.9 | 1.5 | |||
| Vehicles ... | 2.2 | 1.9 | 1.2 | |||
| Percent homeowner ... | 83% | 83% | 78% | |||
| % of Total | % of Total | % of Total | ||||
| Average annual expenditures ... | $47,299 | $36,512 | $25,673 | |||
| Food ... | 5,898 | 13% | 4,871 | 13% | 3,518 | 14% |
| Food at home ... | 3,374 | 3,049 | 2,380 | |||
| Food away from home ... | 2,524 | 1,822 | 1,138 | |||
| Alcoholic beverages ... | 457 | 1% | 329 | 1% | 190 | 1% |
| Housing ... | 14,339 | 30% | 11,152 | 31% | 9,381 | 36% |
| Apparel and services ... | 1,863 | 4% | 1,200 | 3% | 604 | 2% |
| Transportation ... | 8,421 | 18% | 6,506 | 18% | 3,286 | 13% |
| Healthcare ... | 3,262 | 7% | 3,799 | 10% | 3,995 | 16% |
| Entertainment ... | 2,823 | 6% | 1,879 | 5% | 990 | 4% |
| Personal care products and services ... | 628 | 1% | 514 | 1% | 421 | 2% |
| Reading ... | 177 | 0% | 158 | 0% | 135 | 1% |
| Education ... | 730 | 2% | 352 | 1% | 198 | 1% |
| Tobacco products and smoking supplies ... | 301 | 1% | 197 | 1% | 98 | 0% |
| Miscellaneous ... | 825 | 2% | 735 | 2% | 547 | 2% |
| Cash contributions ... | 1,752 | 4% | 2,471 | 7% | 1,542 | 6% |
| Personal insurance and pensions ... | 5,825 | 12% | 2,348 | 6% | 856 | 3% |
| 100% | 100% | 100% | ||||
| Source: Consumer Expenditures in 2004 U.S. Department of Labor-Bureau of Labor Statistics, April 2006 (Report 992) | ||||||
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