This Is The Average Retirement Income (Unexpected)

Are you counting on $50,000 a year to cover your retirement expenses? You might be surprised by how quickly that money can disappear. In this video, we dive into the reality of retirement income in the U.S., uncovering the financial challenges that many retirees face. From heavy reliance on Social Security to the rising costs of healthcare and the impact of inflation, we’ll explore why the average retiree's income may not stretch as far as you think. Whether you’re already retired or planning for your future, it's crucial to understand the true cost of living comfortably in retirement.

We'll discuss:

- The average retirement income and its sources
- The role of Social Security in retirees' finances
- How rising expenses and inflation affect retirement
- The impact of debt and regional cost-of-living differences
- Tips for better financial planning to secure your retirement

Don't forget to like, subscribe, and hit the notification bell to stay updated with more insightful videos on managing your finances and preparing for retirement. Share your thoughts in the comments—what's your biggest concern about retirement income?

Tags:
#RetirementIncome
#RetirementPlanning
#SocialSecurity
#FinancialFreedom
#RetirementExpenses
#InflationImpact
#FinancialPlanning
#RetirementReality
#MoneyManagement
#LivingOnFixedIncome
#RetirementSavings
#CostOfLiving
#DebtInRetirement
#PersonalFinance
#WealthManagement

[LesterHess-tx]

As a soon retiree, keeping my 401k on course after a rocky 2024 is top priority. I have been reading of lnvestors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated.

[donlarson]

I don't need anywhere close to 50, 000 a year. Of course I don't buy new cars, travel, (I hate traveling), don't support a woman, or pay for kids college. I also don't waste money on boats and campers. The key is to cut expense. Most people just don't want to do that.

[austinbar]

The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow the 100k I have saved seperately outside retirement access which of course had depleted over the years?

[nicolasbenson]

I am currently in my 50s and This is no time to taper retirement savings. I want to max out my retirement contributions and I also have another $380k in a savings account that i want to invest in a non-retirement account. Where should I invest it now?

[danielgant]

I wouldn’t even consider retiring until I was totally out of debt. Cars, house, everything. You need to plan on having $1, 000 more per month than you think you will need, lots of extra costs come along .

[chrisbeza]

The background music makes this unlistenable

[kathleenepugh]

Sometimes, you do not have a choice, and your employer may "retire" you.

[Adriannegutman]

I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Catherine Gauthier.

[JamesLee-gdgf]

While 2022 was rough for me, 2023 and 2024 have been pretty good. Admittedly, last couple of weeks have been down. I have been using widely diversified low expense index funds in a 60/40 (stocks/bonds) portfolio. My annual return in 2024 was 16%. My 10 year average return has been 7.6%. You should keep enough money in a stable location (bonds /cash) so that you don't have to sell into a down market. Most suggest about 3 years of income.

[keysersoze]

An average is not accurate. In fact it's useless because it is skewed by a small percentage of very wealthy people. A median would be more accurate. You should know this!

[wharrison]

Average taxpayer $50k per year? No way.

[LostInThezone]

It is not wise to rely on SS for retirement. It was only ever intended to supplement your retirement income. It will never supply you with the same as your pre-retirement income.
If you don't save other money, you will definitely have to cut your expenses.

[janicerhansenmx]

After losing my job unexpectedly at the age of 39, having $425, 000 saved for retirement, $10, 000 in an HSA, and having a house that could be worth an additional $200, 000, I'm searching for ways to make extra money. What are some of the promising alternatives?

[tomTom-lbcu]

As long as it’s 50k after taxes that’s plenty. But if it still needs to be taxed it’s just okay . As long as your mortgage is paid off too.

[ellayoung]

Average is 75k, people also get money from bank accounts not counted here.

[johndotter]

I just retired and will be around that $50k a year. Paud off my credit cards went down to one card, don't live in a masion jyst a humble abide. Don't teally need alot. Car us used and paid for. Don't have to worry about anyone else cause I'm single. Won't be rich but not going to be poor. Just right in the Goldie Locks zone. Have the VA for my medical.

[roberthuntley]

Income is a bit meaningless without considering unavoidable outgoings; if you have to pay rent or a mortgage then you will need a higher income for the same standard of living than a neighbour who doesn't.

[Robert-jdxc]

Uh . . . . Where are you getting your statistics and numbers from?
It looks pretty sketch to me.

[SteveC]

Won't help either for future retirees that social security ponzi scheme with people living longer and there being not enough work force to sustain the longer life expectations unless they garnish what SSA pays, increase the social security tax on existing workers and/or raise retirement age to something closer to 70.

[paulcormier]

Ok I'm at 2 min u keep saying rely? The government has been pounding in our heads you PAY IN THE SYSTEM and we give you a little back! So ya we depend on it! Now I'll finish vid