![\"A](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/09\/A-rich-couple-spends-time-together-enjoying-lunch-iStock-1425127461-e1717600689837.jpg\")
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GOBankingRates’ editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services – our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines<\/a> and our products and services review methodology<\/a>.<\/p>\n 20 Years Trusted by In retirement<\/a>, overall spending tends to decrease with age. This phenomenon often occurs due to factors such as no longer having mortgage payments or car loans that get paid off over time, along with potential lifestyle changes like downsizing. <\/p>\n For upper-class retirees, a similar dynamic can still take place, but they still often spend more than the average person.<\/p>\n Among the highest quintile of earners regardless of age, average monthly spending per household is around $12,508, according to the Consumer Expenditure Surveys<\/a> (CE) program from the U.S. Bureau of Labor Statistics.<\/p>\n<\/p>\n Yet only 3% of retirees spend over $7,000 per month, with just 1% spending more than $10,000 per month, according to an Employee Benefit Research Institute (EBRI) survey<\/a>.<\/p>\n In other words, a fraction of retirees find themselves among the highest spenders overall, likely due to the trend of spending decreasing with age. Still, upper-class retirees often spend more than the average retiree<\/a>.<\/p>\n What Spending Looks Like at Age 81<\/p>\n Among those ages 65 and above, average household spending is around $5,007 per month, according to the CE surveys. That\u2019s about 22% less than the average across all ages.\u00a0<\/p>\n The CE surveys do not break out spending across age and income combined, but we can estimate that by comparing different survey metrics. As mentioned, the approximately $12,508 per month in spending among the highest-quintile earners, regardless of age, is around 94% more than average.<\/p>\n So, if we assume that upper-class retirees<\/a> spend 94% more than the approximate average $5,007 per month in spending average for those 65 and over, that puts the figure at about $9,714 per month. Based on the small proportion who said they spend this much in the EBRI survey, this figure might be a little high, but it provides a rough approximation.<\/p>\n From here, we can estimate what spending looks like more specifically at age 81 based on how spending typically decreases with age.<\/p>\n The CE surveys show that average spending is about $6,948 per month from ages 55 to 64, and from 65 to 74, the average falls to around $5,429, which is around a 22% decline over a decade. Among those ages 75 and over, the average is around $4,419, which is around a 19% decline.<\/p>\n<\/p>\n The math isn\u2019t perfect since the CE surveys don\u2019t break out the ages past 75, but we can very roughly assume that spending falls in the ballpark of 2% per year based on this downtrend across different age groups.<\/p>\n![\"\"](\"https:\/\/cdn.gobankingrates.com\/wp-content\/uploads\/2023\/11\/icon-20.svg?webp=1&quality=75\"){kind=icon}
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