Spending Higher Than Expected for More Retirees in 2022
December 6, 2022
Considering high inflation, it’s not surprising that the percentage of retirees who said their spending was higher than expected increased in 2022 over 2021. These surveys were conducted in January of each year, so with inflation continuing to run high, it’s likely that even more retirees may be experiencing unexpected spending.
Overall expenses/spending
- 2022: 36%
- 2021: 26%
Health care & dental
- 2022: 37%
- 2021: 33%
Housing
- 2022: 29%
- 2021: 24%
Taxes
- 2022: 25%
- 2021: 26%
Travel, entertainment, & leisure
- 2022: 23%
- 2021: 17%
Long-term care
- 2022: 17%
- 2021: 16%
Support/help family member
- 2022: 11%
- 2021: 10%
Source: Employee Benefit Research Institute, 2022
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