In other countries, it is not illegal for minors to drink alcohol, but the alcohol can be seized without compensation. In some cases, it is illegal to sell or give alcohol to minors. The following list indicates the age of the person for whom it is legal to consume and purchase alcohol.
In all, this means the average American retiree (or those 65 and older) is spending about $3,700 per month -- or about $44,600 per year. Using the 4% rule, that would mean a nest egg of over $1 million would be needed to finance the average lifestyle.
Take, for example, clothes. The U.S. apparel industry today is a $12 billion business and the average American family spends $1,700 on clothes annually, according to the Bureau of Labor Statistics. The dollar figures are of little significance since it accounts for just 3.5 percent of a familyâs expenses, on average.