How much do retired people spend per year

Help Support CattleToday:

Stocker Steve

Well-known member
Joined
May 2, 2005
Messages
11,494
Reaction score
792
Location
Central Minnesota
Life expectancy from birth is different than from age 65. My financial guy explained that to me. If you have already reached retirement age without major health issues, your life expectancy is going to be considered to be longer than the average age of death for everyone.
Used to be true, but then there was a series of epidemics.
 

kenny thomas

Well-known member
Joined
Nov 16, 2008
Messages
12,126
Reaction score
2,553
Location
SW tip of Virginia
All those Bear hunting trips are going to get mighty expensive, not to mention your growing metal rooter collection.
You actually are correct on the bear hunting trips. I spend very little when I go but took a 10 year old nephew and a 12 year old niece with me Saturday. First it was pack a cooler full of food and drinks. Then stop at the store for more snacks. Then stopped at Hardee's for 2 loaded up biscuits each. Then on the way back stop at Hardee's again because they were hungry.
Cooler was empty, $30 worth of gas for the day, and my billfold was lighter.
Of course they want to go back best year.
 

Mrcopier

Well-known member
Joined
Oct 25, 2020
Messages
753
Reaction score
613
Location
East Texas
You actually are correct on the bear hunting trips. I spend very little when I go but took a 10 year old nephew and a 12 year old niece with me Saturday. First it was pack a cooler full of food and drinks. Then stop at the store for more snacks. Then stopped at Hardee's for 2 loaded up biscuits each. Then on the way back stop at Hardee's again because they were hungry.
Cooler was empty, $30 worth of gas for the day, and my billfold was lighter.
Of course they want to go back best year.
But it was worth every penny wasn’t it?
 

Walking W

Well-known member
Joined
Mar 19, 2016
Messages
85
Reaction score
66
Location
near Ft Worth, Texas
Money doesn't make a person happy! I watched my parents live on what would now be about $2,500/month and they were fine. My mom lives on $1700/month right now and she is happy. Money gives you options not happiness. Find out what makes you happy. For many on this forum, it seems to be cattle. That happiness choice may require a little more retirement spending. I spend way too much in retirement but most of that extra is not on myself and that makes me happy.
 

DNelson

Member
Joined
Jul 27, 2021
Messages
13
Reaction score
9
I'm just curious. This article says, "At age 65, Americans are expected to live an average of another 19.4 years, and the typical retirement-age American spends $50,220 a year."

So I guess this means for a couple (I was going to say "married" but that isn't appropriate these days) $100,000 per year is required. Seems like a pretty comfortable life style to me.

https://www.thecentersquare.com/ind...nfinity-scroll-summary-sticky-siderail-latest
I'll be way short of $$ if that is the case.
 

shaz

Well-known member
Joined
Jan 9, 2010
Messages
2,433
Reaction score
841
Location
Middle Tn
Money doesn't make a person happy! I watched my parents live on what would now be about $2,500/month and they were fine. My mom lives on $1700/month right now and she is happy. Money gives you options not happiness. Find out what makes you happy. For many on this forum, it seems to be cattle. That happiness choice may require a little more retirement spending. I spend way too much in retirement but most of that extra is not on myself and that makes me happy.
Having cows makes me happy - having money makes my wife happy so I'm kinda screwed in that regards...
 

jltrent

Well-known member
Joined
Aug 25, 2013
Messages
5,689
Reaction score
1,664
Location
Virginia
I see a lot that live close to 80-85 and were basically dead about 5-6 years before (visit nursing homes). To me it is about quality of life not just age. The wife's aunt made it to 84, but laid 6 years in a nursing home not knowing she was in this world at over 7K a month.
 
Last edited:

Dave

Well-known member
Joined
Jul 12, 2004
Messages
10,741
Reaction score
3,046
Location
Baker County, Oregon
We have a little more than that $50,000 a year coming in but not a lot more. We live very very comfortably. We pretty much buy anything we want and do whatever we want to do. A lot of that depends on where you live and how you have lived before retirement. People who have rented all their life still have to pay rent. In most cities that is a big chunk of money. Our little payment on the ranch isn't half what they are paying for rent. How many of them are use to eating out very regularly. They don't have beef and venison that is nearly free. Or raise a garden and can a lot of the produce. Look up frugal in the dictionary and you will see a picture of my wife. She literally gets all her cloths at Salvation Army, Goodwill, etc. Her sister and her make a trip or two a year to areas with a big Yuppy population to shop at the thrift stores there. I have cows but for me they are a business not a hobby. so I treat them and their expenses accordingly.
 

shaz

Well-known member
Joined
Jan 9, 2010
Messages
2,433
Reaction score
841
Location
Middle Tn
I see a lot that live to close to 80-85 and were basically dead about 5-6 years before (visit nursing homes). To me it is about quality not just age.
Very true. Standing in line and sitting in traffic are no value added and take time out of your life just the same.
 

Grayme

Member
Joined
Sep 9, 2020
Messages
19
Reaction score
10
I'm just curious. This article says, "At age 65, Americans are expected to live an average of another 19.4 years, and the typical retirement-age American spends $50,220 a year."

So I guess this means for a couple (I was going to say "married" but that isn't appropriate these days) $100,000 per year is required. Seems like a pretty comfortable life style to me.

https://www.thecentersquare.com/ind...nfinity-scroll-summary-sticky-siderail-latest
Around50K/yr total for wife and I.
 

wbvs58

Well-known member
Joined
Mar 20, 2011
Messages
6,225
Reaction score
1,565
Location
S.E. Queensland, Australia
I think retirement can cater to all budgets. Entertainment is the big thing, some people just can't entertain themselves without spending money, My two sisters are good examples, they both like to travel, whereas the youngest will only go on luxury cruises and tours staying in 5 star accomodation, the oldest does it budget but travels to many out of the way places and is very resourcefull. I know which is the happiest and that is my older sister, she is also innovative at home finding lots of craft things to do. Me I get my entertainment at home on the farm and love my life, just got to have the cows contributing a bit now to my upkeep.

Ken
 

Ferd

Well-known member
Joined
Aug 23, 2014
Messages
98
Reaction score
123
Location
S.E. Il.
In 1938 if you had cattle you were in the country with no electricity, no TV, radio, AC, window fan. You had an ice box. Life expectancy was less. You pumped your water. If you were a young man chances are you would soon be fighting for your life. I’ll take today
 

Caustic Burno

Well-known member
Joined
Sep 26, 2004
Messages
27,340
Reaction score
2,308
Location
Big Thicket East Texas
I'm just curious. This article says, "At age 65, Americans are expected to live an average of another 19.4 years, and the typical retirement-age American spends $50,220 a year."

So I guess this means for a couple (I was going to say "married" but that isn't appropriate these days) $100,000 per year is required. Seems like a pretty comfortable life style to me.

https://www.thecentersquare.com/ind...nfinity-scroll-summary-sticky-siderail-latest
I don’t doubt that number as debt is the new slavery. You don’t need much actually if your not in debt. I am tighter than a crabs butt and that’s waterproof.
What’s in your retirement account and what you draw monthly are two different things.
You have to remember there is no one to give you a raise over those twenty years but you.
I am in my fifteenth year of retirement.
 
Top