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.
According to the Bureau of Labor Statistics consumer expenditure surveys, the typical household spends $7,023 each year on food, which works out to an average of $585 per month. Of that portion, about $4,015 per year (or $334.58 per month) is spent on food at home â likely the average grocery budget across the U.S.