In 2016, 49.5 million Americans were age 65 and older. Half of all older adults had less than $23,394 in yearly income from all sources.
In 2016, half of all older households received less than $39,823 in yearly income from all sources. The median household income for age 65 + in 2016 was $42,113.
Between 2015 and 2016, US median household income rose 3.2% from $57,230 to $59,039, according to a new report released by the U.S. Census Bureau on Tuesday.
So, looking at macro statistics retirees are living on about what the “experts” say. If retirement income should replace 70-80% of pre-retirement income, then based on these data the median retiree household income is at about 72% of working families.
So what’s the problem? Do you buy that?
I am at $35K and one sister is at $45K with another sister at $30K. With Zero debt and 12-year-old car, retirement can be managed very well. Source: retiree comment on this blog