Household spending · Consumer Expenditure Survey · BLS CE 2024
Retirement, pensions, and Social Security Spending
How much American households spend on retirement, pensions, and social security - broken down by income, age, region, household size and tenure, from the BLS Consumer Expenditure Survey.
- Annual average (2024)
- $9,222
- Share of spending
- 11.7%
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 strongly associated with 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 |
How we calculate this: % of Total is this category's published spend divided by that year's total household spend. YoY Change is the percentage difference between a year's amount and the prior year's amount. Both are computed from the raw BLS figures, not re-estimated.
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 |
What to do with this data
The average U.S. household spends $9,222 a year on retirement, pensions, and social security - here's how to put that in context.
- Compare your own spending against the national income quintiles. Budget calculator
- See how retirement, pensions, and social security spending shifts across income levels, ages, and regions. By income
- Track this category in your private watchlist to revisit as the data updates. Save categories
Figures are national averages from the BLS Consumer Expenditure Survey; your own household may differ from these means.
Frequently Asked Questions
How much does the average household spend on retirement, pensions, and social security? ▼
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Which age group spends the most on retirement, pensions, and social security? ▼
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Spending Guides (show related guides)
Related Spending Categories
Browse other major categories from the BLS Consumer Expenditure Survey.
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.
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Free to reuse, including commercially, under CC0 (the underlying BLS Consumer Expenditure Survey data is public domain). A link back is appreciated.
