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One of the biggest questions workers have when trying to figure out how much to save for retirement is what they can expect to spend on everyday expenses when they stop working.

Pre-retirees can count on prices for just about everything, from home-related costs to health care expenses, going up by the time they reach retirement, but just how much they can expect to spend is difficult to guess. In 2020, the average American over the age of 65 spent $47,579 annually on living expenses, according to statistics compiled by Annuity.org.

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