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The average income for those 25 years of age and younger is $48,233 before taxes.
Its $89,514 for those ages 25 to 34.
Spending for these groups is $46,359 and $67,883, respectively.
Shelter
Shelter is the biggest annual expense for retirees.
On average, they spend $11,186 for shelter.
Those under 25 years of age spend an average of $11,737 annually on shelter.
For those 25 to 34, the amount is higher, at $15,429.
Looking at these figures, kinda looks retirees housing budget is realistic for Gen Z.
Transportation
Transportation is another big expense for retirees.
They spend $8,065 on transportation.
The average annual transportation expenses for Gen Z are a bit higher, per the BLS.
Those under 25 spend an annual average of $9,583.
For people ages 25 to 34, its $12,089.
Gen Zs work commutes would make it difficult to stick within a retirees transportation budget.
Healthcare
It might be no surprise that healthcare costs are high for retirees.
According to the BLS, retirees spend $7,505, making it their third-largest expense.
Those under 25, on the other hand, spend an average of $1,353 on annual healthcare expenses.
That goes up to $3,560 for those between the ages of 25 and 34.
Food
Retirees also spend a good deal of their annual income on food.
At $5,898 per year, food is the third-largest expense for those under age 25.
But $2,551 of that goes to restaurant meals.
The spend is similar for younger members of Gen Z.
Those under age 25 spend an average of $1,184 for apparel.
That number grows to $2,249 for those between the ages of 25 and 34.
Then they slowly start to decrease as individuals head toward retirement.
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