The older Americans get after their peak earning years, the less they tend to spend. How much less? The latest DepositAccounts study finds consumers 65 and older spend an average of 20.8% less annually than all consumers — $57,818 versus $72,967.

 

That amount varies significantly by state, too. We analyzed various data sources to delve into these differences and look at how much consumers spend in their retirement years on housing, food, transportation, Medicare, entertainment and personal care across the U.S.

 

Here’s what we found.

 

 

 

Poster's Note: the full list/charts of least and most expensive states including all 50 state rankings are listed on the linked website below. Also listed there are the projected breakdowns for each state by individual type of costs, such as housing, food, transportation, Medicare, entertainment and personal care.

 

https://www.depositaccounts.com/blog/retirement-years-study.html

 

 

You will live in abject poverty at best in the most expensive and least expensive states if you use those figures.