How Much the Average Middle-Class Retiree Could Spend Monthly in 2030
Written by
Kerra Bolton
Edited by
Cory Dudak
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Retirement is getting more expensive, and middle-class retirees may be shocked at how much their budgets will need to stretch by 2030.
The average middle-class retiree is expected to spend about $6,200 to $6,300 per month, with healthcare, housing and insurance driving much of the increase.
Here’s how much average middle-class retirees will spend monthly in 2030.
Monthly Baseline
By 2030, a typical middle-class retiree couple could spend between $6,000 and $6,500 per month just to cover the basics. Financial planner and attorney Chad Cummings said the estimate matched what his clients in Florida and Texas should anticipate.
“Food, transportation, out-of-pocket healthcare and supplemental coverage will drive core recurring expenses even higher,” Cummings said. “These are not luxury budgets: they reflect survival-level baselines.”
Healthcare Will Be the Biggest Wildcard
Healthcare costs in retirement often exceed expectations, with the average retiree projected to spend nearly $200,000 on medical expenses over a lifetime.
“Current estimates show people will need an average of nearly $200,000 for healthcare expenses during retirement — yet 76% of Americans don’t know or underestimate that amount,” said Whitney Stidom, vice president of consumer enablement at eHealth.
Medicare covers a lot, but not everything, leaving retirees exposed to deductibles, prescriptions and out-of-pocket bills that can reach tens of thousands.
“Make the most of Medicare,” Stidom said. “For a growing number of people, they are opting for Medicare Advantage, which today provides coverage for 51% of Medicare beneficiaries.”
Hidden Housing Costs Add Up Quickly
Even without a mortgage, housing remains a major expense for retirees thanks to rising property taxes and insurance premiums.
By 2030, homeowners in states like Florida and Texas may face large, annual housing bills, not counting repairs or climate-driven relocation.
“Property taxes alone will likely exceed $8,000 annually in urban counties like Collin (near Dallas, Texas) or Collier (Naples, Florida),” Cummings said. “Homeowner’s insurance in coastal Florida may reach $6,000 per year due to ongoing carrier exits and reinsurance spikes.”
Retirement Planning Tools Can Miss the Mark
AI-driven retirement calculators are gaining traction, but experts said they often misstate returns, ignore tax thresholds, overlook sequence risk and product dangerously flawed forecasts.
“At least two FINRA (Financial Industry Regulatory Authority) arbitration panels have recently awarded damages where AI tools projected retirement success without factoring in a forced sale during a bear market,” Cummings said.
He explained that Florida and Texas have already tightened data privacy laws, requiring advisers to disclose how client data is handled. Cummings said that even anonymized information can be reverse-engineered when stored on foreign servers, exposing retirees to risks beyond poor planning.
How Retirees Can Prepare Now
The best defense against higher 2030 costs is proactive financial planning.
“The smartest pre-retirees are now planning for a 35-year horizon with forced relocation built into the model,” Cummings said.
He further explained, “Those who assume they will age in place are ignoring the effects of climate migration, insurance withdrawal zones and declining access to quality healthcare.”
Experts also recommend using health savings accounts (HSAs) before Medicare, reviewing Medicare Advantage plans each year.
“Strategically planning for healthcare expenses while still working, along with making informed choices once eligible for Medicare, can help retirees stretch their savings while maintaining their level of insurance coverage,” Stidom said.
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