Friday, September 28, 2007
Tweet[IWS] CRS: CONSUMER SPENDING BY OLDER AMERICANS, 1985-2005 [24 September 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Congressional Research Service (CRS)
Order Code RL34185
Consumer Spending by Older Americans, 1985 to 2005
September 24, 2007
Patrick Purcell, Specialist in Income Security, Domestic Social Policy Division
http://www.opencrs.com/rpts/RL34185_20070924.pdf
[full-text, 72 pages]
Summary
The population of the United States is growing older. Because of the aging of
the population and the decline in income that occurs when people retire, both the
amount and the composition of spending by American households could change
substantially as the 76 million members of the baby boom generation reach
retirement age. This CRS report presents data on spending by Americans aged 55
and older collected by the U.S. Department of Labor through its Consumer
Expenditure Survey (CES). From 1985 to 2005, the average annual expenditures of
older Americans rose along with their incomes, and the distribution of spending
among expenditure categories changed. These changes were the result of changing
tastes and preferences among consumers and differences in the rates of price increase
among various classes of goods and services.
Between 1985 and 2005, the average annual expenditures of families headed by
persons between the ages of 55 and 64, adjusted for inflation, rose by 7.5%.
Spending on housing rose by 29.6%, and expenditures on health care rose by 39%.
The average annual expenditures of families headed by persons between the ages of
65 and 74 rose by 15.7%. Their average housing expenditures rose by 22.5%, while
their spending on health care rose by 40%. The average annual expenditures of
families headed by persons aged 75 and over rose by 13.3%. Average housing
expenditures among this age group rose by 20.4%, while their spending on health
care rose by 40%. As a result, by 2005 housing and health care comprised a larger
share of total expenditures among Americans 55 and older than they did in 1985.
Much of the increase in health care spending was due to the rapid rise in the
price of medical goods and services. Between 1985 and 2005, the Consumer Price
Index (CPI) for medical care rose by 185%, while the CPI for all goods and services
rose by 82%. Health care expenditures rose not only because of inflation but also
because of the introduction of new medicines, medical equipment, and procedures
that either replaced older treatments or that represented entirely new forms of medical
care. The increase in health care expenditures was concentrated in two categories:
health insurance premiums and out-of-pocket spending for prescription drugs, both
of which rose substantially between 1985 and 2005. Out-of-pocket spending for
medical services and supplies, on the other hand, fell during the period. The increase
in housing expenditures cannot be attributed to inflation, at least as it is measured by
the Consumer Price Index. Between 1985 and 2005, both the CPI for housing and
the CPI for all goods and services rose by 82%. The CPI may understate the growth
in the cost of housing because it includes rising rents but not rising home prices.
If Americans merely choose to buy more health care and more housing, then
there is no obvious role for public policy to influence that choice. However, to the
extent that other forms of spending are "squeezed out" by increases in the cost of
housing and health care that are caused by market inefficiencies or the unintended
consequences of federal tax laws, then intervention to correct the market failures and
a review of the incentives caused by these tax policies may be warranted.
This report will be updated as new data become available.
Contents
Background: America's Aging Population . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Changes in Spending, by Expenditure Category, 1985 to 2005 . . . . . . . . . . . . . . . 3
Families Headed by Persons Aged 55 to 64 . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Families Headed by Persons Aged 65 to 74 . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Families Headed by Persons Aged 75 and Older . . . . . . . . . . . . . . . . . . . . . . 5
Changes in Spending, by Share of Total Expenditures . . . . . . . . . . . . . . . . . . . . . 9
Families Headed by Persons Aged 55 to 64 . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Families Headed by Persons Aged 65 to 74 . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Families Headed by Persons Aged 75 and Older . . . . . . . . . . . . . . . . . . . . . . 9
Cohort Analysis of Expenditures from 1985 to 2005 . . . . . . . . . . . . . . . . . . . . . 13
Expenditures in 2005 by Age, Marital Status, Employment, and Income . . . . . . 16
Expenditures by Age: Married Couples . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Expenditures by Age: Unmarried Men and Women . . . . . . . . . . . . . . . . . . 18
Expenditures by Employment Status: Married Couples . . . . . . . . . . . . . . . 25
Expenditures by Employment Status: Unmarried Men and Women . . . . . . 26
Expenditures by Income: Married Couples . . . . . . . . . . . . . . . . . . . . . . . . . 33
Expenditures by Income: Unmarried Men and Women . . . . . . . . . . . . . . . 34
Conclusion and Policy Implications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47
Appendix: Data Tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51
List of Figures
Figure 1. Average Annual Total Expenditures, by Age of Family Head . . . . . . . 6
Figure 2. Average Annual Housing Expenditures by Age of Family Head . . . . . 6
Figure 3. Average Annual Health Care Expenditures, by Age of Family Head . . 7
Figure 4. Average Annual Food Expenditures, by Age of Family Head . . . . . . . 7
Figure 5. Average Annual Clothing Expenditures, by Age of Family Head . . . . 8
Figure 6. Average Annual Transportation Expenditures, by Age of
Family Head . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Figure 7. Expenditures in 1985, Family Head Aged 55 to 64 . . . . . . . . . . . . . . . 10
Figure 8. Expenditures in 2005, Family Head Aged 55 to 64 . . . . . . . . . . . . . . . 10
Figure 9. Expenditures in 1985, Family Head Aged 65 to 74 . . . . . . . . . . . . . . . 11
Figure 10. Expenditures in 2005, Family Head Aged 65 to 74 . . . . . . . . . . . . . . 11
Figure 11. Expenditures in 1985, Family Head Aged 75 or Older . . . . . . . . . . . 12
Figure 12. Expenditures in 2005, Family Head Aged 75 or Older . . . . . . . . . . . 12
Figure 13. Quarterly Expenditures in 2005, by Percentile Rank:
Married Couples . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Figure 14. Share of Expenditures in 2005, by Percentile Rank:
Married Couples . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Figure 15. Quarterly Expenditures in 2005, by Percentile Rank:
Unmarried Men . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Figure 16. Share of Expenditures in 2005, by Percentile Rank:
Unmarried Men . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Figure 17. Quarterly Expenditures in 2005, by Percentile Rank:
Unmarried Women . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
Figure 18. Share of Expenditures in 2005, by Percentile Rank:
Unmarried Women . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Figure 19. Quarterly Expenditures in 2005, by Percentile Rank:
Married Couples, by Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
Figure 20. Share of Expenditures in 2005, by Percentile Rank:
Married Couples, by Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
Figure 21. Quarterly Expenditures in 2005, by Percentile Rank:
Unmarried Men, by Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
Figure 22. Share of Expenditures in 2005, by Percentile Rank:
Unmarried Men, by Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30
Figure 23. Quarterly Expenditures in 2005, by Percentile Rank:
Unmarried Women, by Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
Figure 24. Share of Expenditures in 2005, by Percentile Rank:
Unmarried Women, by Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Figure 25. Quarterly Expenditures in 2005, by Percentile Rank:
Married Couples Aged 55-64, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . 35
Figure 26. Share of Expenditures in 2005, by Percentile Rank:
Married Couples Aged 55-64, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . 36
Figure 27. Quarterly Expenditures in 2005, by Percentile Rank:
Married Couples Aged 65+, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
Figure 28. Share of Expenditures in 2005, by Percentile Rank:
Married Couples Aged 65+, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38
Figure 29. Quarterly Expenditures in 2005, by Percentile Rank:
Unmarried Men Aged 55-64, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
Figure 30. Share of Expenditures in 2005, by Percentile Rank:
Unmarried Men Aged 55-64, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . . 40
Figure 31. Quarterly Expenditures in 2005, by Percentile Rank:
Unmarried Men Aged 65+, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41
Figure 32. Share of Expenditures in 2005, by Percentile Rank:
Unmarried Men Aged 65+, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42
Figure 33. Quarterly Expenditures in 2005, by Percentile Rank:
Unmarried Women Aged 55-64, by Income . . . . . . . . . . . . . . . . . . . . . . . . 43
Figure 34. Share of Expenditures in 2005, by Percentile Rank:
Unmarried Women Aged 55-64, by Income . . . . . . . . . . . . . . . . . . . . . . . . 44
Figure 35. Quarterly Expenditures in 2005, by Percentile Rank:
Unmarried Women Aged 65+, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . 45
Figure 36. Share of Expenditures in 2005, by Percentile Rank:
Unmarried Women Aged 65+, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . 46
List of Tables
Table 1. Projections of the Resident U.S. Population, by Age . . . . . . . . . . . . . . . 1
Table 2. Average Expenditures, by Age of Family Head at 10-Year Intervals . . 15
Table A1. Average Annual Expenditures, Family Head Aged 55 to 64 . . . . . . . 51
Table A2. Average Annual Expenditures, Family Head Aged 65 to 74 . . . . . . . 52
Table A3. Average Annual Expenditures, Family Head Aged 75 or Older . . . . 53
Table A4. Average Quarterly Spending in 2005 by Marital Status and Age . . . 54
Table A5. Share of Total Spending by Category in 2005 by Marital Status
and Age . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55
Table A6-a. Average Quarterly Expenditures in 2005 by
Employment and Age: Married Couples . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
Table A6-b. Average Quarterly Expenditures in 2005 by
Employment and Age: Unmarried Men . . . . . . . . . . . . . . . . . . . . . . . . . . . 57
Table A6-c. Average Quarterly Expenditures in 2005 by
Employment and Age: Unmarried Women . . . . . . . . . . . . . . . . . . . . . . . . . 58
Table A7-a. Average Share of Expenditures in 2005 by
Employment and Age: Married Couples . . . . . . . . . . . . . . . . . . . . . . . . . . . 59
Table A7-b. Average Share of Expenditures in 2005 by
Employment and Age: Unmarried Men . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60
Table A7-c. Average Share of Expenditures in 2005 by
Employment and Age: Unmarried Women . . . . . . . . . . . . . . . . . . . . . . . . . 61
Table A8-a. Average Quarterly Expenditures in 2005 by
Annual Income and Age: Married Couples . . . . . . . . . . . . . . . . . . . . . . . . . 62
Table A8-b. Average Quarterly Expenditures in 2005 by
Annual Income and Age: Unmarried Men . . . . . . . . . . . . . . . . . . . . . . . . . . 63
Table A8-c. Average Quarterly Expenditures in 2005 by
Annual Income and Age: Unmarried Women . . . . . . . . . . . . . . . . . . . . . . . 64
Table A9-a. Share of Total Expenditures by Category in 2005
by Income and Age: Married Couples . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65
Table A9-b. Share of Total Expenditures by Category in 2005
by Income and Age: Unmarried Men . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66
Table A9-c. Share of Total Expenditures by Category in 2005
by Income and Age: Unmarried Women . . . . . . . . . . . . . . . . . . . . . . . . . . . 67
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Congressional Research Service (CRS)
Order Code RL34185
Consumer Spending by Older Americans, 1985 to 2005
September 24, 2007
Patrick Purcell, Specialist in Income Security, Domestic Social Policy Division
http://www.opencrs.com/rpts/RL34185_20070924.pdf
[full-text, 72 pages]
Summary
The population of the United States is growing older. Because of the aging of
the population and the decline in income that occurs when people retire, both the
amount and the composition of spending by American households could change
substantially as the 76 million members of the baby boom generation reach
retirement age. This CRS report presents data on spending by Americans aged 55
and older collected by the U.S. Department of Labor through its Consumer
Expenditure Survey (CES). From 1985 to 2005, the average annual expenditures of
older Americans rose along with their incomes, and the distribution of spending
among expenditure categories changed. These changes were the result of changing
tastes and preferences among consumers and differences in the rates of price increase
among various classes of goods and services.
Between 1985 and 2005, the average annual expenditures of families headed by
persons between the ages of 55 and 64, adjusted for inflation, rose by 7.5%.
Spending on housing rose by 29.6%, and expenditures on health care rose by 39%.
The average annual expenditures of families headed by persons between the ages of
65 and 74 rose by 15.7%. Their average housing expenditures rose by 22.5%, while
their spending on health care rose by 40%. The average annual expenditures of
families headed by persons aged 75 and over rose by 13.3%. Average housing
expenditures among this age group rose by 20.4%, while their spending on health
care rose by 40%. As a result, by 2005 housing and health care comprised a larger
share of total expenditures among Americans 55 and older than they did in 1985.
Much of the increase in health care spending was due to the rapid rise in the
price of medical goods and services. Between 1985 and 2005, the Consumer Price
Index (CPI) for medical care rose by 185%, while the CPI for all goods and services
rose by 82%. Health care expenditures rose not only because of inflation but also
because of the introduction of new medicines, medical equipment, and procedures
that either replaced older treatments or that represented entirely new forms of medical
care. The increase in health care expenditures was concentrated in two categories:
health insurance premiums and out-of-pocket spending for prescription drugs, both
of which rose substantially between 1985 and 2005. Out-of-pocket spending for
medical services and supplies, on the other hand, fell during the period. The increase
in housing expenditures cannot be attributed to inflation, at least as it is measured by
the Consumer Price Index. Between 1985 and 2005, both the CPI for housing and
the CPI for all goods and services rose by 82%. The CPI may understate the growth
in the cost of housing because it includes rising rents but not rising home prices.
If Americans merely choose to buy more health care and more housing, then
there is no obvious role for public policy to influence that choice. However, to the
extent that other forms of spending are "squeezed out" by increases in the cost of
housing and health care that are caused by market inefficiencies or the unintended
consequences of federal tax laws, then intervention to correct the market failures and
a review of the incentives caused by these tax policies may be warranted.
This report will be updated as new data become available.
Contents
Background: America's Aging Population . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Changes in Spending, by Expenditure Category, 1985 to 2005 . . . . . . . . . . . . . . . 3
Families Headed by Persons Aged 55 to 64 . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Families Headed by Persons Aged 65 to 74 . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Families Headed by Persons Aged 75 and Older . . . . . . . . . . . . . . . . . . . . . . 5
Changes in Spending, by Share of Total Expenditures . . . . . . . . . . . . . . . . . . . . . 9
Families Headed by Persons Aged 55 to 64 . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Families Headed by Persons Aged 65 to 74 . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Families Headed by Persons Aged 75 and Older . . . . . . . . . . . . . . . . . . . . . . 9
Cohort Analysis of Expenditures from 1985 to 2005 . . . . . . . . . . . . . . . . . . . . . 13
Expenditures in 2005 by Age, Marital Status, Employment, and Income . . . . . . 16
Expenditures by Age: Married Couples . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Expenditures by Age: Unmarried Men and Women . . . . . . . . . . . . . . . . . . 18
Expenditures by Employment Status: Married Couples . . . . . . . . . . . . . . . 25
Expenditures by Employment Status: Unmarried Men and Women . . . . . . 26
Expenditures by Income: Married Couples . . . . . . . . . . . . . . . . . . . . . . . . . 33
Expenditures by Income: Unmarried Men and Women . . . . . . . . . . . . . . . 34
Conclusion and Policy Implications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47
Appendix: Data Tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51
List of Figures
Figure 1. Average Annual Total Expenditures, by Age of Family Head . . . . . . . 6
Figure 2. Average Annual Housing Expenditures by Age of Family Head . . . . . 6
Figure 3. Average Annual Health Care Expenditures, by Age of Family Head . . 7
Figure 4. Average Annual Food Expenditures, by Age of Family Head . . . . . . . 7
Figure 5. Average Annual Clothing Expenditures, by Age of Family Head . . . . 8
Figure 6. Average Annual Transportation Expenditures, by Age of
Family Head . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Figure 7. Expenditures in 1985, Family Head Aged 55 to 64 . . . . . . . . . . . . . . . 10
Figure 8. Expenditures in 2005, Family Head Aged 55 to 64 . . . . . . . . . . . . . . . 10
Figure 9. Expenditures in 1985, Family Head Aged 65 to 74 . . . . . . . . . . . . . . . 11
Figure 10. Expenditures in 2005, Family Head Aged 65 to 74 . . . . . . . . . . . . . . 11
Figure 11. Expenditures in 1985, Family Head Aged 75 or Older . . . . . . . . . . . 12
Figure 12. Expenditures in 2005, Family Head Aged 75 or Older . . . . . . . . . . . 12
Figure 13. Quarterly Expenditures in 2005, by Percentile Rank:
Married Couples . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Figure 14. Share of Expenditures in 2005, by Percentile Rank:
Married Couples . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Figure 15. Quarterly Expenditures in 2005, by Percentile Rank:
Unmarried Men . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Figure 16. Share of Expenditures in 2005, by Percentile Rank:
Unmarried Men . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Figure 17. Quarterly Expenditures in 2005, by Percentile Rank:
Unmarried Women . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
Figure 18. Share of Expenditures in 2005, by Percentile Rank:
Unmarried Women . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Figure 19. Quarterly Expenditures in 2005, by Percentile Rank:
Married Couples, by Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
Figure 20. Share of Expenditures in 2005, by Percentile Rank:
Married Couples, by Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
Figure 21. Quarterly Expenditures in 2005, by Percentile Rank:
Unmarried Men, by Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
Figure 22. Share of Expenditures in 2005, by Percentile Rank:
Unmarried Men, by Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30
Figure 23. Quarterly Expenditures in 2005, by Percentile Rank:
Unmarried Women, by Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
Figure 24. Share of Expenditures in 2005, by Percentile Rank:
Unmarried Women, by Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Figure 25. Quarterly Expenditures in 2005, by Percentile Rank:
Married Couples Aged 55-64, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . 35
Figure 26. Share of Expenditures in 2005, by Percentile Rank:
Married Couples Aged 55-64, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . 36
Figure 27. Quarterly Expenditures in 2005, by Percentile Rank:
Married Couples Aged 65+, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
Figure 28. Share of Expenditures in 2005, by Percentile Rank:
Married Couples Aged 65+, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38
Figure 29. Quarterly Expenditures in 2005, by Percentile Rank:
Unmarried Men Aged 55-64, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
Figure 30. Share of Expenditures in 2005, by Percentile Rank:
Unmarried Men Aged 55-64, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . . 40
Figure 31. Quarterly Expenditures in 2005, by Percentile Rank:
Unmarried Men Aged 65+, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41
Figure 32. Share of Expenditures in 2005, by Percentile Rank:
Unmarried Men Aged 65+, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42
Figure 33. Quarterly Expenditures in 2005, by Percentile Rank:
Unmarried Women Aged 55-64, by Income . . . . . . . . . . . . . . . . . . . . . . . . 43
Figure 34. Share of Expenditures in 2005, by Percentile Rank:
Unmarried Women Aged 55-64, by Income . . . . . . . . . . . . . . . . . . . . . . . . 44
Figure 35. Quarterly Expenditures in 2005, by Percentile Rank:
Unmarried Women Aged 65+, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . 45
Figure 36. Share of Expenditures in 2005, by Percentile Rank:
Unmarried Women Aged 65+, by Income . . . . . . . . . . . . . . . . . . . . . . . . . . 46
List of Tables
Table 1. Projections of the Resident U.S. Population, by Age . . . . . . . . . . . . . . . 1
Table 2. Average Expenditures, by Age of Family Head at 10-Year Intervals . . 15
Table A1. Average Annual Expenditures, Family Head Aged 55 to 64 . . . . . . . 51
Table A2. Average Annual Expenditures, Family Head Aged 65 to 74 . . . . . . . 52
Table A3. Average Annual Expenditures, Family Head Aged 75 or Older . . . . 53
Table A4. Average Quarterly Spending in 2005 by Marital Status and Age . . . 54
Table A5. Share of Total Spending by Category in 2005 by Marital Status
and Age . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55
Table A6-a. Average Quarterly Expenditures in 2005 by
Employment and Age: Married Couples . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
Table A6-b. Average Quarterly Expenditures in 2005 by
Employment and Age: Unmarried Men . . . . . . . . . . . . . . . . . . . . . . . . . . . 57
Table A6-c. Average Quarterly Expenditures in 2005 by
Employment and Age: Unmarried Women . . . . . . . . . . . . . . . . . . . . . . . . . 58
Table A7-a. Average Share of Expenditures in 2005 by
Employment and Age: Married Couples . . . . . . . . . . . . . . . . . . . . . . . . . . . 59
Table A7-b. Average Share of Expenditures in 2005 by
Employment and Age: Unmarried Men . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60
Table A7-c. Average Share of Expenditures in 2005 by
Employment and Age: Unmarried Women . . . . . . . . . . . . . . . . . . . . . . . . . 61
Table A8-a. Average Quarterly Expenditures in 2005 by
Annual Income and Age: Married Couples . . . . . . . . . . . . . . . . . . . . . . . . . 62
Table A8-b. Average Quarterly Expenditures in 2005 by
Annual Income and Age: Unmarried Men . . . . . . . . . . . . . . . . . . . . . . . . . . 63
Table A8-c. Average Quarterly Expenditures in 2005 by
Annual Income and Age: Unmarried Women . . . . . . . . . . . . . . . . . . . . . . . 64
Table A9-a. Share of Total Expenditures by Category in 2005
by Income and Age: Married Couples . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65
Table A9-b. Share of Total Expenditures by Category in 2005
by Income and Age: Unmarried Men . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66
Table A9-c. Share of Total Expenditures by Category in 2005
by Income and Age: Unmarried Women . . . . . . . . . . . . . . . . . . . . . . . . . . . 67
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