Monthly expenses of retirees
Bureau of Labor Statistics Consumer Expenditure Survey
Retirement household monthly expenses $4345 Total
80% of Retirement household expenses come from these 5 areas:
1. 6% for entertainment $241
2. 12% for food $540
3. 13% for healthcare $585
4. 14% for Transportation $592
5. 36% for Housing $1573
These expenses add up to $3531, leaving $814 for other items!
I think it is going to be rough sledding to make it on these numbers and with inflation at 7+%, it will be much more difficult. Who would have dreamed that $52,140 yearly would cut it this close? A yearly income by withdrawing 4% from savings or retirement account would require you to have $1,303,500 in your account.
Send a Message
An email will be sent to the owner
Keep in Touch
Location
San Mateo, California