Living consumption and health consumption are two aspects of the pursuit of quality of life in later years by middle-aged and elderly groups, and are also important ways to “enhance consumption resilience and build a long-term consumption mechanism” in the process of Chinese-style modernization. This paper uses the CHARLS (China Health and Retirement Longitudinal Study) micro-survey data to empirically explore the consumption preferences of middle-aged and elderly groups for living and health consumption under three different types of resource structures: income-based, security-based, and cognition-based. The study finds that there are significant differences in the preferences of middle-aged and elderly groups for living and health consumption under the three different types of resource structures. Therefore, the government should provide more refined and targeted consumption guidance to this group based on these characteristics. At the same time, it is essential to continuously expand and optimize the family resource structure of the middle-aged and elderly groups to enhance their risk-resistance capabilities.