I was trying to find a breakdown of how retirees generally spend their money (in comparison to those in different age brackets)...I imagine healthcare is the big factor....anything else??
Peak spending on tangibles in the US is approximately age 48. Empty nesters are likely to downsize. Townhouses, assisted living, etc. Entertain themselves. Dining and travel. Donations to churches and charities. Spoil grandchildren (if any) and .........healthcare. However, with 1 in 9 presently on Food Stamps, suggesting no assets and an increased future dependency upon social security and with life expectancy increasing to well beyond 80 years of age, the previous cited "behavior" may indeed change. Dramatically. Essentially, the "graying" of America. Multiply that change by a demographic bulge. As for healthcare, it's such a rig. The last material cure was in 1954 with Polio. It's not even a cure, it's a preventive vaccine. No cures for cancers, heart disease, diabetes, etc. Pharmacists merely scrape pills from a big bottle to a little bottle. A blockbuster drug, gets 17 year patent protection, requires daily usage, and only reduces symptoms. R&D aside, 7 cents to produce and each dose is $$$$$.
I worked at a hardware store when I was a lad many moons ago. The major demographic of the customers were handymen and old people. The old people bought a lot of gardening supplies.
I don't know if this is standard but where I am they seem to spend a lot of on holidays. They seem to especially like cruises. I don't know why. In America I think Nutmeg nailed it. They spend a lot on gambling. They don't spend much on grandchildren like they used to more themselves. They all have new cars sometimes several. They seem to spend there money as soon as it comes in on themselves on stuff they don't need. In any event they will all lose their money soon.