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This Is What You Should Be Saving For In Your Old Age

This is what you should be saving for in your old age

Americans 65 years and older may not have as many job-related costs, such as commuting to an office or work clothes, but they still spend plenty, according to data from the Bureau of Labor Statistics.

Housing was their greatest expense, at more than $15,500 a year (and about a 35% share of the household budget). Transportation accounted for nearly $7,000. Cash contributions, such as donations and child support, was more than $2,000, the data showed.

See: Money milestones: This is how your finances should look in your 50s

Out-of-pocket health care cost almost $6,000 (and 13%…

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