Average Retirement Income In America Revealed — Will You Make Enough Each Month?

The economic landscape in the United States presents a challenging scenario for Americans nearing retirement. The convergence of inflation, high interest rates and an unpredictable stock market has significantly impacted retirement plans. Despite a decrease in inflation, concerns about income keeping pace with rising costs persist. Questions about the adequacy of Social Security benefits add to the uncertainty.

Social Security, often considered the bedrock of retirement income, offers limited relief. In 2023, the average Social Security retirement benefit was $1,827, which translates to $21,924 per year or $423 per week. This amount, though consistent, falls short of ensuring a comfortable retirement, especially when considering medical expenses.

Jeannine Mancini | Yahoo Finance

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