According to a study from the U.S. Bureau of Labor Statistics, housing is the greatest expense in dollar amount and as a share of total expenditures for households in which a person 55 and older is considered the primary owner or renter of the home. Total annual household expenditures, which were culled from the BLS’ 2014 Consumer Expenditure Survey, totaled just over $49,000. These expenditures included food, housing, clothing, transportation, health care, and entertainment, among other expenses.