Monthly Costs for Retirees: Housing, Food and Other Essentials You Should Know

Key Takeaways In 2024, according to the latest data available, people age 65 and older spent an average of $61,432 per year, or about $5,120 per month. The largest spending categories were housing, clocking in at $1,849 per month, transportation ($794.83), health care ($649.92), and food ($661.66). Spending also included an average of $252.08 per month on entertainment, such as shows, sporting events, club memberships, camping, and pets. Comparison is often called the thief of joy, but when it com ...