I Asked ChatGPT How Much the Average Upper-Middle-Class Retiree Spends Monthly at Age 80 — Here’s What It Said

Core Insights - ChatGPT provides valuable insights into retirement spending, particularly for upper-middle-class retirees, by compiling data from various sources [1][2] Group 1: Average Spending Data - The average retiree household in the U.S. spends approximately $5,000 monthly, which includes essential expenses like housing, food, and healthcare [3] - For strict middle-class retirees, the average monthly spending is around $4,200, leading to an estimated range of $5,000 to $6,000 for upper-middle-class retirees at age 80 [4] Group 2: Spending Trends with Age - Spending typically declines with age, especially in areas like travel and discretionary expenses, as older retirees may prefer to stay home [5] - Anticipating a decrease in spending is crucial for retirement planning, as monthly expenses may drop from $6,000 to $5,000 or less by age 80 [6] Group 3: Individual Financial Situations - While the data is accurate, it may not apply universally, as each retiree's financial situation and goals can vary significantly [7]