Here is what a typical 68 year old couple really spends each month.
Middle income retirees often find the sums tighter than expected once work ends and routine costs take centre stage. Fresh data paints a clear picture of how spending changes through the late 50s into the early 70s, with a notable reset around the late sixties.
That picture also lines up with how many people feel. An Employee Benefit Research Institute survey shows 32% of retirees say their standard of living is lower in retirement than during their working years, while only 10% say it is higher. Forty six percent think they did not save enough. And the share who say they spend more than they can afford rose from 17% in 2020 to 27% in 2022. The squeeze is real.
The data that anchors the estimate, and the UK twist you need
There is limited data for spending exactly at age 68, yet the Consumer Expenditure Surveys from the U.S. Bureau of Labor Statistics offer a strong guide. The surveys measure what a consumer unit spends, which typically mirrors a household. For ages 65 to 74 the average consumer unit size is 1.9 people, so the figures broadly reflect a couple. For ages 55 to 64 the average unit size is 2.2.
Across those brackets, average annual spending among 55 to 64 year olds is reported at 83,379 in the source currency. For 65 to 74 year olds the figure is 65,149. That is a 21.9% drop as households move into later retirement. Applying that same trajectory within the decade lets us approximate a number for a couple aged 68, which the analysis places at 68,466 per year in the source currency.
For a British reader, it helps to see the numbers in pounds. Using an indicative conversion for clarity, that 68,466 translates to roughly £54,800 a year. That equals about £4,560 in monthly spending for an average, middle income retired couple at 68. Your exact figure depends on household size and personal circumstances, yet the direction of travel is informative.
What a 68 year old couple likely lives on each month, explained simply
Think of the late sixties as a steady step down from peak pre retirement outlays. The surveys suggest average annual spending around 55 to 64 is higher, then spending drops by about one fifth by the 65 to 74 bracket. Smooth that change through the decade and you land near that £4,560 a month estimate for middle class retirees at 68.
Why does it fall. Some costs ease when full time work ends. Commuting, professional clothing, and heavier mortgage overpayments often fade. At the same time, healthcare, home maintenance and seasonal energy bills become more visible. And in the UK, winter bills dont help, so cashflow management matters even when annual averages look manageable.
- Ages 55 to 64 average annual spending about £66,700
- Ages 65 to 74 average annual spending about £52,100
- Approximate 68 year old couple about £54,800 per year or £4,560 per month
The caveats that change the picture more than you think
These totals reflect a consumer unit rather than a single person, and that unit is usually a couple at these ages. A solo retiree at 68 will likely spend less in total, though some costs do not halve neatly. Geography also matters. A homeowner in the North West with a small mortgage may sit well below the average, while a couple renting in the South East can land above it even on careful habits.
Timing plays a role too. Heating and food shops can push winter months higher, with quieter summer months offsetting the pace. That is why many retirees prefer to view their budget on an annual basis, then smooth the monthly drawdown. The underlying surveys support that approach because they capture rolling spending rather than one off snapshots.
Why the mood feels tougher than the maths, and what to watch now
Sentiment keeps surfacing in the EBRI survey. Almost half of retirees think they under saved, and more people say their spending sits above what they can comfortably afford compared with a few years ago. Those findings help explain why even a middle income couple can feel pressure at the supermarket or when the council tax letter lands on the mat.
If that sounds familiar, the spending path in the data offers a useful prompt. Check whether your monthly outgoings still mirror a working life pattern. Then see if small switches could bring you closer to the typical post work profile without touching the parts of life that matter. A leaner mobile tariff or smarter boiler schedule can be enough to line up your outgoings with that £4,560 benchmark.
None of this replaces personal advice. It does provide a grounded, UK friendly picture built on the Consumer Expenditure Surveys, with the reality check from the Employee Benefit Research Institute. For many, the late sixties bring a calmer spending rhythm. Knowing the number helps you meet it on your own terms.
