USA Today: Avg. American has this much retirement income

By | April 27, 2016

From USA Today

Avg. American has this much retirement income

If you’re stressed out about retirement, you’re not alone. Many Americans are. Major life-changing events and money are two of the leading stressors we face, according to survey data, and retirement involves both of them.For many Americans, stepping away from a career and committing to a fixed source of income can be a difficult transition, but how much money should you expect to live on in retirement?According to a 2012 AARP analysis of data from the Census Bureau, the average retirement income for Americans 65 and over was $31,742 — 84% of those received Social Security, with 43.3 million of them getting an average retirement benefit of $1,298.98 a month. Social Security provides more than a third of income for many retirees, and retirees in the lowest income quintile count on Social Security for more than 80% of their income.

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