Retirement, pensions, and Social Security Spending
How much American households spend on retirement, pensions, and social security — 2024 data from the BLS Consumer Expenditure Survey
Spending Insight: Retirement, pensions, and Social Security
American households spent an average of $9,222 on retirement, pensions, and social security in 2024, representing 11.7% of total consumer expenditures.
Historical trends for retirement, pensions, and social security show how consumer priorities shift over time as wages, prices, and preferences evolve.
Income is the strongest predictor of retirement, pensions, and social security spending: the top income quintile spends $25,940/year versus $537 for the lowest quintile — a 48.3x gap. Regionally, the West spends the most ($10,891/year) while the South spends the least ($7,949/year). Use the cross-cuts below — by income, region, age, household size, and housing tenure — to see which demographic factors drive this category hardest for your situation.
Spending Trend (2020–2024)
| Year | Annual Amount |
|---|---|
| 2024 | $9,222 |
By Income Level (2024)
How retirement, pensions, and social security spending varies across income quintiles
| Income Group | Annual Amount |
|---|---|
| Lowest 20% | $537 |
| Second 20% | $2,407 |
| Middle 20% | $5,813 |
| Fourth 20% | $11,316 |
| Highest 20% | $25,940 |
By Region (2024)
Geographic variation in retirement, pensions, and social security spending
By Age Group (2024)
How retirement, pensions, and social security spending changes across the lifecycle
By Household Size (2024)
| Size | Annual |
|---|---|
| 1 Person | $4,066 |
| 2 People | $11,440 |
| 3 People | $9,005 |
| 4 People | $12,626 |
| 5 or More | $15,402 |
By Housing Tenure (2024)
| Tenure | Annual |
|---|---|
| Homeowner (with mortgage) | $11,141 |
| Homeowner (no mortgage) | $14,875 |
| Renter | $6,217 |
Frequently Asked Questions
How much does the average household spend on retirement, pensions, and social security? ▼
How does income affect retirement, pensions, and social security spending? ▼
Which region spends the most on retirement, pensions, and social security? ▼
Which age group spends the most on retirement, pensions, and social security? ▼
Does household size affect retirement, pensions, and social security spending? ▼
Spending Guides
Related Spending Categories
Browse other major categories from the BLS Consumer Expenditure Survey.
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Disclaimer: This information is provided for informational purposes only and does not constitute professional advice. Data is sourced from the BLS Consumer Expenditure Survey. Consult a qualified professional before making decisions based on this data.
Read our methodology — how this data is sourced, computed, and verified.
