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Ch. 14 3 Che Exhibit 14-3 AGE 65-74 AGE 75 & OLDER How "Average" Older...

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Ch. 14 3 Che Exhibit 14-3 AGE 65-74 AGE 75 & OLDER How "Average" Older (65-74 and 75+) Average $Amount Percent Average $ Amount Percent Households Spend Their Money Pretax Annual Income 100 $35,467 $36,673 $13,375 $4,349 $ 683 $5,091 $5,708 $ 1,626 $ 800 $ 5,041 $52,366 $48,855 $15,838 32.4 $ 6,284 $ 1.417 $ 8,338 $5,456 $2.988 $2,788 $6,074 100 100 36.5 11.9 100 Annual Expenditures Retired families spenda greater share of their income for food, housing, and medical care than nonretired families Housing Food 12.0 2.9 17.1 12.2 6.1 5.7 1 1.6 Clothing Transportation Health Care Entertainment Pensions and Social Security Other 13.9 15.6 4.4 13.7 Includes cash distribution, alcohol, tobacco, personal care products and services, reading, education, life and personal insurance, and miscellaneous expenses Source: Ann C. Foster, A Closer Look at Spending Patterns of Older Americans," Beyond the Numbers: Prices and Spending, vol. 5, no. 4 (U.S. Bureau of Labor Statistics, March 2016), https:/www.bls.gov/opub/btn/volume americans.htm, accessed May 4, 201 MacBook

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