News Summary

• GOBankingRates breaks down how different retirement budgets look at age 65 compared to age 75.
• Most middle-class retirees at 65 spend around $5,400 per month, roughly $65,000 yearly.
• At age 75, monthly spending drops to about $4,400.
• The biggest drops happen in transportation (24% decrease) and entertainment (31% decrease), according to Andrew Lokenauth, founder of the blog Fluent in Finance.“During my years on Wall Street, I watched clients struggle with this transition because they underestimated how spending patterns shift,” he said.