The 2024 Spending in Retirement Survey queried ~3,600 individuals ages 62 to 75 about their spending habits and situation at and during retirement. Quotas were set on age, gender, caregiver status, and disability status to ensure accurate representation of overall retirees and oversample population. The disability-affected and caregivers were oversampled. Data reported are weighted based on gender, race, income, disability, and caregiving using CPS and EBRI estimates.
Whil The Disabili e Persona ty-l Affected Disability Wi Matche thdrewd Cen From S sus avings for S Prevalence, pen the ding HoMore usehold The Disability-Affected Were More Likely to Say They Spend More Than Whil Ca Disa Th Disa Disabili The regivers os e bili bili Disabili e Affected More ty ty ty- --Affected Affected Affected Reti Were Disabili ty-Affected by More Retirees Retirees Disa ty-Affected Reti Likely rees bili Ten ty ded Were Le Ex Were M Were Le Than pe to rience Se N rees ore ss ot to e ss Their Ed d Likely Ha Likely More Be uc d Long ated De Disabili t to Fu Un bt o Tha Se -ex as Term nd t pe ty Les As n -Ex cted Th Affected, but ide Eme Ca s M pen eir N re Sa ana ses Insuranc ving on gea rgen - by s Ne ble, cy the e, eds, Top For T Reho aso se ns Disab for R iletir ity-ing Affected for the Retirees Disabili Who ty-Aff Ha ect d ed TaWer ken Ac e Having tion, a Health The Majority of Both Disability-Affected and Non-Disability-Affected Tw Disa Co enty nfi bili den -Eight tyce in -Affected Pe Affordi rcent Ind of R ng ividuals Ca etir re ees Was Low Re Re tired E ported Being er arlier T Among ha Disabili D n Ex isabil pety it cted y Aff -Affected ected Retirees Su Sp Disa More Re De Long rvey en bt tiremen bili - ding — of Te ty Overview Su the rm C - Affected — t mmary Status Disa Su are mmary bili an of — — d tyRe Pre - Su De Affected of su mmary sc pa Re ltripti rations ssu lt ve Were Fema of s Statisti Re for su Ag lts cs ing le — Summary of Results The Disability-Affected Had More Medical and Credit Card Debt Ex Often perience Than the No With Disabili n-Disabili ty W ty as Meaningful -Affected, but the Difference Was Small Re They ducing Can Aff Spend ording on Essential Needs the Differenc Primari Funds Disabili but Va the st Maj ly ty Diff e Was S Due -Affected Counterparts erence ority to H of mall W ealth C Bo as Small th Groups are and Assisti Did Not ng HaCh veil Insu dren ranc and e Grandchildren Pro Planning blem anfor A d Caging ring for a Was Spo Prim us aril e or y Throu Other F gh amily Non-Financ Member ial Means Retirees Do Not Work During Retirement Current Spending Affordability, by Disability-Affected Status Curren Type t Le s of De vel of De bt, by bt, Di by sab Diil sab ity-il Af ity fected -Affected Status Status Have Set Aside Emergency Funds, by Disability-Affected Status Withdrawal of Sa Hig vin hest gs to Deg Fun ree d Ex of E peducatio nditures, n Achieved by Disability-Affected Status Actions Taken to Plan for Aging Needs, by Disability-Affected Status Confidence in Having Enough Resources to Pay for Care as You Age, by Employment Status During Retirement, by Disability-Affected Status Personal Timi Di ng sabi of Re litytireme and Di nt, sabi by liDi tysab in Hou ility-Af seho fected ld Status Percentage of Retirees Who Reported Being Types of Unexpected Expenses, by Disability- • • • • • Forty Dis Elev While 66% While more ability en per perce -Af ce of nt fec dis nt of dis ability ted of those ability : the Re -aff dis sp aff -aff ec onde ability ec ec ted ted ted nt re -by aff individuals re is dis tirees ec dis ted ability abled had and long repor and/or 8% of tired -term ted ear so thos their ca meone lier e reno than sp ins t endin in t ur aff expected, anc ec he g ted e hous wa than rep s ehold either only or the ted non 54% has a an lit - tle a of Whether a Caregiver, by Disability-Affected Status Actions Resulting From Emergency Expenses, by Disability-Affected Status Reasons for Retiring, by Disability-Affected Status Had Long-Term Ca D Dis isa abilit bilit re y y-A -A Insu ffffec ectted ran ed ce, N Not D ot by D is Di isabilit abilit sab yy -A il -A ity fffec fecte -Af ted fected d Status Disability-Affected Status Disability-Affected Not Disability-Affected Disability-Affected Not Disability-Affected Affected Status Disability-Affected Not Disability-Affected Disability Affected Disability-Affected Not Disability-Affected Had Significant Unexpected SpendinDi g N sab D eed isail s, bilit ity y --A Afffected fected , by N ot Gen Disabilit der y-Affected 70% disability the disability unmanageable higher non or -disability - .aff much ected, lev higher -aff el of the ecte v than debt. ast d did. majorit they D How isabilit could y ev y -A of fer, fec both taff ed the ord. larges groups Not Disabilit t perc did y-Anot fentage fected have of thi retirees s type of said insur they ance had Yes, this applies to me This applies to someone else in my household Final Results: Total = 3,661 respDis onde ability nt -A s, ffecte 1,649 d dis Notability Disabilit- yaff -Affec ected ted retirees 60% 80% 60% Disability-Affected Not D 57% is 6% ability-Affected Disability-Affected Not Disability-Affected Disability-Affected Not Disability-Affected 42% by Disability-Affected Status 70% You had another work-related reason (Please specify): Disability-Affected Not Disability-Affected 63% 2% 35% I have not taken any actions 32% Disability-Affected Not Disability-Affected 66% 12% A crus no at hing all. debt, level ofat de33% bt for the disability-affected and 38% for the non-disability-affec 71% ted. 55% Mortgage debt 80% 32% 1% 40% • • 90% A Twe highe nty-r eight perce per ntag cee nt of of the retirees disability repor -aff ted ecbeing ted paid disfor ability expens -affec es ted. by withdrawing from 73% Difficulty with errands 5% 7% 5% 31% 3% 83.6% 70% 60% You were offered an early retiremen Yest paNo ckage or your employer incentivized • The 2024 Spending in Retirement Survey queried ~3,600 individuals ages 62 to 75 about their spending 2% Interests and hobbies (travel, 48% 65% Other, please specify 48% Other, please specify 50% 47% 30% 28% 50% 6% 9% 15% 60% you to take an early retirement 30% 70% 2% 2% entertainment, e 76. tc.)4% were more savings, but the difference wa 27% s small. 80% 80% 28% Business loan 28% habits and situation at and during retirement. Quotas were set on age, gender, caregiver status, and 54% 26% 13% An unmanageable lev 0% el Looked for information about aging issues and the types of care available to peop 11% le as • • Mos Not only t of the does dis the ability inc -idenc affected e of 69% re per spso onde nal nt dis s wh ability o re conc tired ur ear with Cens ly did so us to ca number re for s, famil but y 49% expense than expected 18% 60% 25% 15% 40% 750% 0% You had/have to care for a spouse or another family member Difficulty with self-care 2% 3% 43% they age of debt 8% 60% disability status to ensure accurate representation of ove 7% rall 12% retirees and oversample population. Withdrew from my emergency savings 70% 45% 25% 40% Housing costs were more than 39% 50% 25% 6% 52% • • • Twe While 63% member A the larg per nty er ce - six s per ntage orper of ce bec those ntage ce 53% of aus nt those of e not of of the the aff a with dis health ec dis ability ted hous ability by pr ehold -oblem aff - dis aff ec ability ec member ted ted or sa had dis had id ability s they se medic with t as . ar The non a disab ide al e not debt emer co ilit (2 -dis nfident gency y 8%) is meaning ability than sa at -aff vi all in the ngs ect ful. non , ed having only wh - o 40% 22% 60 Hom % e equity loan 35% 28% 14% 52% 8% 47% Estimated costs of medical treatment and prescription drugs expected 50% 6% 47% 60% 48% You wanted to do something else 42% 21% 50% Increased withdrawal from retirement or 12% 8% •50%The retired 49% enough disability disab of ilearly ity the fi-nanc -aff affected disability ected did ial so res an (16%). beca - d ourc aff care ected use eIn gi s vers to additi they had. retire, w ere could on, while only ove while t aff rsamp ord he to le 17% vd. ast or thei majorit of r the company y non of - both disability underw groups -aff ent had ecstruc ted cr do. edit tura l 23% 40% A manageable level of 28% Ambulatory difficulty 14% 7% 20% • The disability-affected were more co28% mmonly 44% women 21% 10% (55%) than men (45%). 20% 18% investment accounts 40% 30% 17% Medical debt Estimated costs of long-term care 25% 8% debt 33% B 40 e% cause 50% of changes in the skills required for your job or your skills no longer 30% 3% Investments lost value 40% 27% ch caange rd debt, s. 72% of the disability-affected had this type of debt vs. 66% of those not 40% 31% 16% 16% 11% LONG-TERM CARE AND PREPARA 9%TIONS 2% matching job requirements • Data reported are weighted based on gender, race, income, disability, and caregiving using CPS and • Forty 15% -eight percent of the disability 56% -affected repor 15% ted experiencing unexpected 30% 31% Set aside money that could be used to pay for ongoing living assistance expenses 42% 14% 30% 15% 40% Increased credit card debt • aff Dis ec ability Cognit ted iv by - e aff im dis pair ecability 5% ted mentretire . es were less educated than thos 15% e who were not, with 15% and 3% 5% 27% 15% 17% 38% including nurTh sing er ho e we me re ch care,a a ng sen es a ior t comm your co unm ity, p a or n y, care such from as d a hom ownsizing e healthca , clo re su aire deor Student loans 30% 30% 20% DESCRIPTIVE An EBRI estima easily manageab tes. le STATISTICS Children or grandchildren ne25% eded RETIREMENT STAT 27% US 30% 20SPENDING % 29% 20% expenses in retirement vs. 31% of those not affected by disability. The most common DEBT 4% 11% 27% reorganization 20% 21% 72% 23% help 27% 30% level of debt 11% • Approximat 6% having less ely one than -fifa high th of dis sc ability hool degr -affec ee ted and retirees 15% and had 21% plann 19% having a ed for aging college need degr s by ee, FOR AGING Reduced spending on your ow 23. Ta n lked 6% dis tc o unpa retion id ary caregivers (family, friends) 10% 47% 20% 20% 10% expens8% es included health care and providing for ch1ildre 1% n and grandchildren. 33% 2024 Spending in Retirement Survey 13% 60% 10% Car loan 8% 43% Vision impairm You ent had/have a health problem or a disability 20% 2% 3% 10% expenses 20% 16.4% 11% • The re sesp arec ch majority ing tively. for of information both groups on we options re not , talking currently to wo nonp rking aid or ca never regivers, had and work mak ed ing during 0% 20% Health care needs above normal 34% 28% 8% 50% 6% 10% 7% Researched paid caregivers 8% 6% 6% 33% 37% 10% Disability-Affected Not Disability-Affected expenses 10% 7% 4% Reduced spending No debt on your own essential 49% • retirement modif A larger ications 8% perc . entage to their of home disability so they -aff can ected stay res pondent there. 10% s funded unexpected expenses 5% Data were collected on the Qualtrics platform from April through July 2024. At 95% confidenc 72% e, 5% 10% You could afford to retire earlier than you planned 38% 10% 10% 5% Credit card debt 4% 6% 26% 36% 8% 3% 5% expenses 3% 66% 10% Researched, toured, or moved into group or community living arrangements Hearing impairment 4% 5% 4% the margin of error is +/-1.6% in a similarly sized random sam 0% ple. 20% 40% 60% 0% 5% by decreasDisab ing esseili ntial tyexpenditures -Affected than Oversamp did the non-disle ability Resul -affecte ts d (49% vs. 0% 4% 3% 0% 0% 10% 20% 30% 40% 50% 60% 70% 0% Provided Care Did Not Provide Care 0% 0% 5% 10% 15% 20% 25% 30% 35% 40% 0% 0% 10% 20% 30% 22% 40% 50% 60% 0% 10% 20% 30% 40% 50% 60% 70% 80% Never OccasioMal nally e Female Fairly often On a regular and systematic 0% Made home modifications necessary to remain at home 0% Yes No 36%). Much higher than you A little higher than you About the right amount 13% A little less than you can Much less than you can 0% 0% 5% 10% 15% 20% 25% Yes No Extremely confident Fairly confident Somewhat confident Slightly confident Not at all confident Yes, I currently work Di Yes sabil , ity-Aff I have e cte wd orked i Not n th Disa e pas bility-Af t afte fecte r d No, I never worked basis Some high Set s ac shoo ide l em orergenc High y fun sc ds hool Som Did e not colleg set e/ as tra ide de em College ergenc grad y funds uate (4- Post graduate D w on' ork t know Graduate degree can afford can afford for what you can afford afford afford Q147: Have you had significant unexpected spending needs since you Earlier than expected About when expected Later than expected Q68: Which of the following created unexpected expenses? (check all that apply) retirem 0% ent but not 1 0 no %w 20% 30% 40% 50% 60% less graduate or business school year degree) retired? November 2025 Q24: Have you ever worked, either part-time or full-time, while Q11: Did you retire earlier or later than expected? Q12: Why did you retire from your primary career? Q131: Which of the following actions, if any, have you taken to plan for your own Q67: Have you set Q32: aside D em o ey rge ou nhav cy oe r rain long y-d -ta erm y fun c dare s tha ins t wuranc ould co eve ? r your expenses for 3 Q130: Thinking abo Q27: ut you Pleas r curre e nt indic or po at ssible e whic futu h re kinds need s offo debt r ongo yin ou g li cving urrent assista ly hav nce e, how confident are you that Q110 Within the last 12 months, have you helped an adult (18 years or older) relative or friend take care Q61: How of Q28 ten : do How you would take y m ou oney desout cribe of y y our our cs urre avings nt lev and el of inv deb esttm ?ents to supplement your Q148: What actions resulted from the emergency expense(s)? (Select all that apply) being retired from your primary career? 22 13 15 20 28 27 23 19 14 18 10 24 25 21 26 17 12 16 29 30 11 7 2 6 4 5 8 9 3 months in case of sickness, income loss, economic downturn, or other emergencies? you will have the financial resources to pay for any care you need as you get older? of themse needs lves? as you age? (Select all that apply) Q51 Do you feel your current spending level is…? monthly income in order to purchase things?