Calculate approximately how much money an older (65+) household with an annual income of $36,000 spends on housing each year. Use Exhibit 14-2 Money spent on housing Exhibit 14-2 Personal insurance and pensions 51% $1,985 How an "Average" Older (65 +) Household Spends Its Money Retired families spend a greater share of their income for food, housing, and medical care than nonretired families Other expenses 3.7% $1,449 Reading, education, entertainment 7.2% $2,824 Cash Contributions 6.1% $2,392 Housing 35 0% $13,706 Clothing_- 29% $1,129 Medical care 12 2% $4,769 Transport at iorn 14 7% Food 131% $5,168 $5,751 Total Expenditures approximately $39,173 -100 percent in 2011 . Bureau of Labor Statistics, Consumer Expenditure Survey, September 2013 (www.bls gou/cex/ Calculate approximately how much money an older (65+) household with an annual income of $38,000 spends on medical care each year. Use Exhibit 14-2. Money spent on medical care Personal insurance and pensions 5.1% $1,985 Other expenses 3.7% $1.449 Reading, education entertainment 72% $2,824 Cash Contribution:s 6.1% $2,392 Housing 35.0% $13,706 Clothing 2.9% $1,129 Medical care 12.2% $4,769 Food Transportation 13.1% 14.7% $5,751 $5,158 Total Expenditures approximately $39,173 100 percent in 2011 URCE U.S. atistios, Consumer Expenditure Survey, Seotember 2013 (www.bl Bureau of Labor Sta