Cropped portrait of a group of quirky senior friends messing around outdoorsBy Dayana Yochim – NerdWallet – June 1, 2018

According to the latest Bureau of Labor Statistics data, based on 2016 figures, “older households” – defined as those run by someone 65+ – spend an average of $45,756 per year, roughly $3,800 a month. That’s about $1,000 less than the monthly average spent by all U.S. households combined.

Their insurance premiums – which run more than $4,000 a year, on average, for the 65+ set – are a spending category that gets larger as they age, at least until age 75, when BLS data shows costs dipping about $30 per year. At least there’s Medicare to help cover some costs.

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