Even though the economy is doing well this doesn’t necessarily mean that retirement will provide you with enough income. Some people will have enough to get by but others will come up short. The average retirement age is 75 and the income range for that age group is the lowest. The mean and median income provides information about how much other people are making in retirement and the lower of those two, the median, is the more realistic figure.
Key Takeaways:
- There are retirees who will have more than average and some who will fall short
- There is a mean and median income for retirees and it’s more realistic that the median income is accurate.
- The median income falls significantly for those who are over the age of seventy five.
“According to the most recent research from Boston College, the percentage of retirees in 2020 who are at risk of not having enough is about 50%.”
Read more: https://www.newretirement.com/retirement/average-retirement-income-2020-how-do-you-compare/
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