Retirement Costs: How Much Seniors Spend on Essential Needs
While older Americans generally spend less than younger Americans, Americans over 65 have seen a significant increase in spending recently. In fact, total spending for those over 65 increased by 43.1% between 2012 and 2022. That’s according to an analysis of the Bureau of Labor Statistics’ 2022 Consumer Expenditures by Savings Account Survey, a subsidiary…