Running out of money in retirement is a nightmare scenario, but new data shows that fear may become a reality for some retirees. According to a Clever Real Estate survey of current retirees, over one-quarter (29%) have no retirement savings at all, and 45% are worried they’ll outlive their retirement savings. Find Out: The Most Common Retirement Mistake, According to an Expert Read Next: 5 Clever Ways Retirees Are Earning Up To $1K per Month From Home “There are two factors primarily at play when it come ...

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 ...