![\"Younger](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/04\/senior-mature-parents-adult-son-couch-smartphones-happy_iStock-2151324619.jpg\")
<\/p>\n <\/p>\n
\n milan2099 \/ iStock.com <\/p>\n
Commitment to Our Readers<\/p>\n
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 If you rely on retirement calculators, one money expert has a word of advice \u2014 make sure you take a careful look at the results.\u00a0<\/p>\n \u201cHere\u2019s my framework from decades in finance: Plan for higher spending in your 60s, moderate spending in your 70s and lower spending, except healthcare, in your 80s,\u201d said Andrew Lokenauth, founder of the blog Fluent in Finance<\/a>. \u201cMost retirement<\/a> calculators miss this. They assume flat spending throughout retirement, which leaves people either overspending early or hoarding money they never enjoy.\u201d<\/p>\n GOBankingRates breaks down how different retirement budgets look<\/a> at age 65 compared to age 75.<\/p>\n Planning for Retirement Budgets<\/p>\n Most middle-class retirees at 65<\/a> spend around $5,400 per month, roughly $65,000 yearly, per Lokenauth. He said at age 75, monthly spending drops to about $4,400.<\/p>\n Lokenauth said the decline surprises most people because they assume healthcare costs will skyrocket. While healthcare does increase slightly to $700 monthly, other categories plummet, he noted.<\/p>\n \u201cThat\u2019s a big shift from working years,\u201d Lokenauth added. \u201cDuring my years on Wall Street, I watched clients struggle with this transition because they underestimated how spending patterns shift.\u201d<\/p>\n Retirement Budgets at Ages 65 and 75<\/p>\n Here\u2019s a look at what Lokenauth said are expected monthly budgets<\/a> for ages 65 and 75, based on his work on Wall Street and with clients.<\/p>\n A 65-year-old\u2019s monthly budget (total $5,400):<\/p>\n Housing: $1,850 A 75-year-old\u2019s monthly budget (total $4,400):<\/p>\n Housing: $1,700 Lokenauth noted the biggest drops happen in transportation (24% decrease) and entertainment (31% decrease). Housing falls by just 8%, showing it remains a major expense but becomes more manageable, according to Lokenauth.<\/p>\n \u201cI work with some clients who moved to the city for retirement<\/a> to prepare for when they may not be able to drive,\u201d said Marguerita Cheng, certified financial planner (CFP) and CEO of Blue Ocean Global Wealth<\/a>. \u201cCity living may not be for everyone. I also work with other clients who moved to continuing care communities for more stress-free living.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"milan2099 \/ iStock.com Commitment to Our Readers GOBankingRates’ editorial team is committed to bringing you unbiased reviews and…\n","protected":false},"author":2,"featured_media":375923,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[11232,138,246,3319,111,139,69,244,245,5099],"class_list":{"0":"post-375922","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-budgeting","9":"tag-business","10":"tag-finance","11":"tag-gobankingrates","12":"tag-new-zealand","13":"tag-newzealand","14":"tag-nz","15":"tag-personal-finance","16":"tag-personalfinance","17":"tag-saving-money"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/375922","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=375922"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/375922\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/375923"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=375922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=375922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=375922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/cdn.gobankingrates.com\/wp-content\/uploads\/2023\/11\/icon-20.svg?webp=1&quality=75\"){kind=icon}
<\/p>\n
Helping You Live Richer<\/p>\n![\"\"](\"https:\/\/cdn.gobankingrates.com\/wp-content\/uploads\/2023\/11\/icon-experts-review.svg?webp=1&quality=75\"){kind=icon}
<\/p>\n![\"\"](\"https:\/\/cdn.gobankingrates.com\/wp-content\/uploads\/2023\/11\/icon__trusted.svg?webp=1&quality=75\"){kind=icon}
<\/p>\n
Millions of Readers<\/p>\n
\nTransportation: $900
\nHealthcare: $660
\nFood: $610
\nEntertainment: $290
\nOther: $1,090<\/p>\n
\nHealthcare: $700
\nTransportation: $680
\nFood: $570
\nEntertainment: $200
\nOther: $550
\nKeeping Budget Numbers in Perspective<\/p>\n