I read recently that the average retirement is 52K per year in the private social security system of Chile. I don’t know if this is a rumor.
It depends on what you put in, but $52k is a pretty normal equivalent for a normal middle class Chilean. A typical American would get those kinds of checks, too.
You don’t have to bother with a 401k with that kind of pension coming in. I don’t see why we don’t scrap this stupid 0% yield system we have now and just go private. Only the politicians will be left without their slush funds.