“Average Spending by Age for Those 55 and Up: Are You Thrifty?,” by Donna Fuscaldo, Kiplinger’s
“When it comes to what retirees are spending on, there are some key areas closely tracked by the government and economists. They include housing, transportation, food, health care, entertainment, insurance and apparel. Although these categories don’t cover all of your future expenses, knowing how much others spend on them can help you start building your own retirement budget.”
LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:
Click through for a table showing average expenditures in these categories by age. But take the results with a grain of salt. Averages are misleading. The table shows average health care sending going from $7,164 for 65-74 year olds to only $8,145 for people 75+. Yeah, maybe … unless you need LTC. That’s why private insurance is the answer. To understand why most people don’t worry about LTC until the need it, read the Paragon Health Institute’s “Long-Term Care: The Problem” and “Long-Term Care: The Solution” and watch this “virtual LTC event” featuring age wave visionary Ken Dychtwald and leading LTC researchers. To find ample private funds for LTC, check out “Medicaid’s $100+ Billion Leak.” For what not to do, see “Medi-Cal-amity: California’s Reckless Expansion of Medicaid Long-Term Care to the Affluent.” Much more on long-term care here.