Social Security periodically releases detailed data on the expenditures of the Aged (literally their term)
https://www.ssa.gov/policy/docs/chartbo ... tml#source
The latest is from 2020 released Jan 2022. Social Security has done a fantastic job of compiling this information.
Our spending has been at average or a bit above it from the consumer finance survey for younger families.
This is the first time I have come across one that is focused on the seniors that has such granular data. Hope it is useful to some that are grappling to understand future spending in retirement.
https://www.ssa.gov/policy/docs/chartbo ... page32.svg
The chart above was useful to me.
Another nugget that was useful - healthcare expenses.
Of the total dollars spent on healthcare - 75% went towards insurance, 25% went towards out of pocket costs.
[Admonition: If you spend $150K-200K or more per year, please refrain from polluting the thread by remarking how it doesn't seem real or not applicable to you. Thank you]
https://www.ssa.gov/policy/docs/chartbo ... tml#source
The latest is from 2020 released Jan 2022. Social Security has done a fantastic job of compiling this information.
Our spending has been at average or a bit above it from the consumer finance survey for younger families.
This is the first time I have come across one that is focused on the seniors that has such granular data. Hope it is useful to some that are grappling to understand future spending in retirement.
https://www.ssa.gov/policy/docs/chartbo ... page32.svg
The chart above was useful to me.
Another nugget that was useful - healthcare expenses.
Of the total dollars spent on healthcare - 75% went towards insurance, 25% went towards out of pocket costs.
[Admonition: If you spend $150K-200K or more per year, please refrain from polluting the thread by remarking how it doesn't seem real or not applicable to you. Thank you]
Statistics: Posted by kd2008 — Wed Sep 04, 2024 7:23 am — Replies 1 — Views 234