What Is a Good Monthly Retirement Income?
I’d say if you have Kardashian or Oil Sheik money you’d be okay....
A “good” retirement income is when your income exceeds your expenses.
The minimum amount one needs in retirement after 65 depends mightily on whether you own your house or not.
I’ve said before, discussing averages across the U.S. is useless. How much you need to retire comfortably is 90% where you retire. I live very comfortably on $44,000 a year in south Alabama. In other parts of the country I’d be starving to death.
“Updated on Feb. 21, 2024: This story was previously published at an earlier date and has been updated with new information.”
LOL...if it was originally published three or more years ago, they probably doubled what you need to live on in retirement.
Our GD feral government has hosed us yet again. And lots more hosing to come. BOHICA.
Considering the REAL inflation under Chomo Joe has increased 100% in 4 years I will die in my shop. I don’t mind working but geesh.
To quote Bernard Baruch, “Just a little bit more.”
50 million billion jillion dollars.
I can blow through half a million in a year without even trying. I know, I’ve seen me do it. So what is a good income for one person isn’t a good income for another.
“Retirees can expect to spend 70% to 80% of their pre-retirement income in retirement, according to one rule of thumb.”
That is TOTAL BULLSHIT - perhaps retirees might spend that percentage based on what they spent prior, but if they are CONSERVATIVES (meaning they don’t send their kids to public schools), then they were spending not much over 50% of what they made prior to retirement. It simply goes with the culture.
I have stock and will at the end of the year be getting social security. I will make more retired then when I was working. When Trump wins again, the economy will go up and up making the 401k and other retirement better for all.