How Much the Average 50-Year-Old with a $100K Salary Spends Monthly
Written by
T. Woods
Edited by
Brendan McGinley
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
Have you ever wondered if you’re paying far more in expenses than others in your age bracket? Do you worry that you’re overspending on bills when other people your age are coasting?
For those who are making six figures at middle age, here’s a good baseline for where your peers’ finances stand — although perhaps not how they necessarily should, given how widespread regret is among Gen X over a common financial mistake.
Estimated Spending by 50-Year-Olds Making $100,000
“The average 50-year-old with a $100,000 salary probably spends about $2,500 on their mortgage,” said Melanie Musson, finance expert at Clear Insurance. “Utilities will cost about $500. They spend another $600 on a car payment. Insurance and gas will add about $300 a month.”
But that’s not all.
“They spend $100 on subscriptions, $500 to $1000 on groceries and $300 to $400 on eating out,” she continued. “Miscellaneous spending takes up to $1,000 per month.”
When you tally those monthly costs up, they come to approximately $6,400 per month being spent by 50-year-olds with a $100,000 salary. That’s $76,800 a year: not much left after taxes!
Exact Average Spending by 50-Year-Olds Making $100,000 Is…
Musson’s assessment hews rather closely to the US Bureau of Labor Statistics (BLS) numbers. A BLS study, released in December 2024, regarding spending habits noted that the average American aged 52.1, who makes approximately $101,805 before taxes, is expected to annually spend $77,280. To then divide $77,280 across 12 months, and per the BLS, a person in this age group spends roughly $6,440 — just $40 more than Musson’s estimate.
If you find yourself near the age of 50 and making close to $100,000, yet are spending far more than $6,400 monthly, it’s definitely time to reevaluate your finances. Are you overspending on subscriptions, over-paying on your insurance or perhaps utilizing too many high-fee credit cards? Use $6,400 as a solid baseline to stick to with your spending to keep your finances in line with your peers.
If your own finances at 50 don’t match this general profile, don’t worry either way. If you’re spending more, there are steps you can take to get right financially. And if you’re putting away greater amounts for tomorrow, keep at it. The averages above aren’t a model to base your best life on, and their numbers don’t reflect the wisest way to spend, save or invest six figures at middle age. In fact, this typical profile probably represents a good portion of the ways the deck is stacked against Gen X saving enough to retire on.
More From GOBankingRates
