Here’s How Much the Average Middle-Class Retiree Spends Each Month

During retirement, most people live off a fixed income. This means they need to make sure their monthly spending stays within budget.

Yahoo! Finance figured out how much money the average middle-class retiree (aged 65 and older) spends each month using spending data from the Bureau of Labor Statistics and the Social Security Administration.

It found that middle-class retirees — that’s seniors with $50,000 to $69,999 in annual household income — spend an average of $59,599 per year. That breaks down to about $5,000 per month. Housing is their biggest expense, followed by healthcare.

The Seniors Trust is committed to improving the financial well-being of older Americans by passing the Social Security Expansion Act. It will give retirees an immediate increase of about $200 a month in benefits, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and ensure the long-term solvency of the Social Security program.