? TRUTH! Average Retiree Income: How Do You Compare?

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Information ? TRUTH! Average Retiree Income: How Do You Compare?

Title	:	? TRUTH! Average Retiree Income: How Do You Compare?
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💰Alternative Places BEFORE Retireing, Buying or Relocating to Florida! - youtube/VRTjNfGeybY
Comment from : Jerry Pinkas

Nice Video
Comment from : GRMD: Gaata Rahe Mera Dil

Positive message, Retired in October 2015 at 59 & 62 with 2 M savings, no debt and 50k pension Our 40S/40B/20C mix increased by 1M to 3M in 5 years Savings increased we enjoyed our TIME and could not spend all the money We traveled doing long term RENTAL stays 6 to 9 months until March 2020 Cancer ( breast) arrived in 2021, alternative treatments not covered by insurance cost 150k and daily work to heal (TIME) for 2 years Now healthy TIME is your #1 asset SS Wife at 62 and me 70 split the difference logic brKept 2000 sqft house on what we call the 2 acre park and 2 miles from Easton Md brExamples Hawaii annual scuba adventure RENT $800k condo in Waikoloa 2 months for $8k to now $15k Fun fact the annual condo fee & taxes are $25k so do not own Leaving for 2 months October to December to scuba at 70 and 67! brFlorida 5 years annual 2 month stay RENT $200k/$400k house in Terra Vista resort community Citrus county or $4k to $6k Fun fact annual HOA & taxes are $9k so do not own brWe did SLOW travel examples Cayman RENT for a month and scuba Egypt tour + 3 weeks in France +6 weeks in Malta 3 weeks at waterfront apt and 3 weeks at 3 different resorts Interesting while in France checked Malta reservations at resorts price dropped I rebooked to save $2k for 3 weeks Note to self get a VPN brI wish everyone a happy life Please enjoy every day!
Comment from : Letro

I retired May of 1999 after serving 28 years on the Phoenix Police Department Retirement is great I'm 75 now and still hanging in there
Comment from : Wallace Geller

Is the monthly income amount before or after taxes? Thanks
Comment from : mrxman

I am looking for a place down S Carolina by the water or at least a dock in a canale for 6 months of winter every year, Pittsburgh, Pa show bird Ty, Tom
Comment from : Thomas Bridges

I waited til 66 to retire now 69 Could have retired at 62 but gained $1200 more per month waiting another 4 years Am I glad? Lol idk health is good You never know
Comment from : Wigs, The Real Scoop with MichelePearl

$58,000 a year
Comment from : Wigs, The Real Scoop with MichelePearl

net worth $490,000
Comment from : Wigs, The Real Scoop with MichelePearl

$5,000 and it’s not a lot
Comment from : Wigs, The Real Scoop with MichelePearl

In Sept of 2009, at the age of 60, I retired from a Big Oil company after a 30-year career I took my pension lump sum and left my 401k [both in 7 figures] with my employee/retiree savings plan I invested the pension with a major financial institution [stocks and mutual funds] My 401k was nearly all oil company stock For income the first 10 years, I purchased a ten-year, period certain Immediate Annuity, since the 'Great Recession' was giving me the jitters The 401k was giving us $20 - 40k a year in dividend income When the Annuity ended, I rolled the 401k into the IRA account We have had enough income to live comfortably, take first class vacations abroad, some including 10-16 day cruises We love to travel But last year, at age 74, I was diagnosed with metastatic melanoma in my brain and right lung I've had 14 radiation treatments and about a dozen immunotherapy infusions We seem to be winning the battle according to the PET and MRI scans but time will tell My advice to your viewers/readers: Do the best you can with what you have - live in the present - plan for the future but remember that the future may not include you!
Comment from : Dana & Barb Hutchison

Good advice
Comment from : les f

I declared myself retired a while back I still work at the same palce i got to help out and do the job
Comment from : Ricky Bosephus

So in 1999 74 of those 65+ were debt free and today it’s 55 AND the median net worth today is 271k… Americans are horrible with money and getting worse 😂
Comment from : Darby OHara

How?
Comment from : Iang Len

Financial advisors and media sell us a big lie about how much money we need to live on when we retire I have seen estimates we need as high as 80 of working income Baloney! Retiring with no mortgage and no debt, we have lived our chosen lifestyle on about 1/3 of our working income Granted we had high working incomes but our retirement is frugal, but not limited We travel internationally for extended vacations every couple of years, spend three months in a VRBO in Florida every winter and enjoy our lives We do limit eating outwe like to cook…and do not feel a need to belong to a Country Club or buy news cars
Comment from : Jay Yarnell

Good advice, thanks for the reminder bc you're preaching to the choir on this one I've always lived large during most of my life, and I have the biggest CC bills to prove it But since I'm selling off some real estate I no longer use, I'll pay all the bad debt off, finish paying off the kids college debt, still have a healthy 401k balance, a good company pension and close to top numbers when I call it a day in a few years brI grew up in not the best part of the city, in a single parent household, so I have to thank my dad and the Lord above for my blessings and pretty good situation that I find myself in Thirty five years ago I was in a coma with numbers across my chest They were waiting for me to die from the bad accident that I had was in, and I was young and healthy with fresh parts that they probably had already auctioned off While I was in the coma, I seen the door with the light shining around it, but it was still closed for me The Lord's way of telling me that it wasn't my time yet, and that I better try better next time! Everyone make friends with Jesus, because we're all going to be knocking on that door sooner or later
Comment from : Bartholomew NYC

I retired at 56 My company was laying off and I put all the cash into my pension and went I take a holiday or trip every few weeks on a budget airline to visit another town or use it as a base to visit the area You must get debt free and KEEP TO YOUR BUDGET
Comment from : R Bir

Great vids my friend Good reminders
Comment from : Brent Zimmerman

Working buying third home in OBA Retire at age 64,love your podcasts
Comment from : Kraig Naderhoff

Retired at 50 now I'm 72 love every day! Secret, live within your means invest and save your money!!!
Comment from : VLADO O

I have a SS benefit in my plan but my plan doesn’t count on the full benefit
Comment from : Bruce McLeod

Actually, if you have a home worth $400,000 your real networth is about $360,000 with realtor, closing cost, property tax and misc selling fees I retired from my IT job of 27 years in 2019 at 53 and love not being chained to a desk We are in Illinois and our preference is Colorado or Wyoming when my wife retires in a year
Comment from : 24 Hour GMT Channel

Very good advice video…simple, straight & applicable to the masses Thank you
Comment from : John Mokas

Being average or median isn't going to cut I recommend to strive for the top 25 and if you can do that, you'll live a nice retirement
Comment from : fialee8 CA

South Carolina scores poorly on safety That's my biggest concern about that state However, they do have the best stripper bars outside of Canada
Comment from : Jim Smith

How about average daily retiree alcohol consumption?
Comment from : Jim Smith

Thanks this info helped Take care
Comment from : Sal Salazar

Don't retire, dementia waits around the corner Keep your mind and social calendar active
Comment from : Paul Chezkari

The reason I can retire with no income and little money has a lot to do with the fact that I dried beans and dried rice I can eat for a week on less than two dollars and 50 pound bag of beans cost $40 a 10 pound bag of rice cost eight dollars Last week several days over 100° I did not turn on the AC
Comment from : Rodney Macomber

No billsbrNo bank loansRetired military!Teacher Havent worked for others since age 57 Over 5000 monthly and Thailand is much better but has some nuts too!
Comment from : Traveling man

Retired at 53 and never looked back
Comment from : TomMarineVet

Recent subscriber Enjoy content Cheers
Comment from : M R

I'M 66 retired with net liquid funds of $S 650k , having net passive income of $ S 7500/month from solid investments and bonds , all my three properties are fully paid ,some insurance that can cash off anytimeOnly committment is waiting for my son to graduate in 1 year Should i relax and stay status quo and retired on or go for higher returns
Comment from : Victor Koh

I retired at 64but i still owe a500000
Comment from : Wilbur Tubbs

At 7:50 you say the average SS check is $2484 per month $1825 according to SSA
Comment from : Clague B

I want to retire at 40-any advice?
Comment from : Jose Valverde

Around my late thirties it dawned on me obligated by a mortgage was a major barrier for the good life So I greatly sacrificed and paid off the mortgage I also believed in inflation for ever So I bought a second home and rented it out In 3 years the second home appreciated significantly! So I sold both and bought a beautiful home in a very good place free and clear That was 48 years ago My point dear reader nothing has changed Do the best you can to protect and profit from inflation Even if you have to sacrifice now
Comment from : Tom Morgan

Fellow retirees feel sorry for me working part-time I’m 71 and still not drawing on my retirement I’m contributing to a 401K and Roth I like what I do for 10 to 15 hours a week I take time off for vacations when I feel like it and have hobbies and interests that I’m involved with What’s not to like?
Comment from : Beth

thanks My wife is anxiety prone to the nth degree but clearly we are sitting pretty so hopefully this helps her a bit (Now if only my hips weren't going south)
Comment from : Spinecat

medians and averages can have little meaning The median of $273,000 may not actually give a clear picture of what most people actually have
Comment from : Second edition

you have to define net worth
Comment from : Second edition

Many people seem to be looking for a beach place or semi-tropical place to retire, but I’d rather have a cooler place, not extremely cold, but cooler Don’t know where yet
Comment from : Enjoys Learning And travel

That’s true about time, you could have all the money in the world, but you can’t buy back time
Comment from : Enjoys Learning And travel

'To obtain financial freedom, one must be either a business owner, an investor, or both, generating passive income, particularly on a monthly basis' - Robert Kiyosaki I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made😊
Comment from : Phyllis Richards

There are a lot of variables on how much money a retiree needs in retirement I believe number 1 is the area where you live If you live in a low cost area like I do and own your own home that's half the battle Number 2 is staying out of car debt If you have a paid off home in retirement and stay out of car debt you pretty much have it made
Comment from : Joseph Kelleher

Enjoyed the video clip How about doing something similar for higher income individuals? There are many about the median income population
Comment from : J M

You don't have to spend $4000 a month unless you are still paying mortgage and car
Comment from : Babylonia Bundy

you are spot on!!!! thank you for putting my mind at rest it's reasuring to know we are on the right track!!!
Comment from : Tina Edgington

Im thinking about moving to Mexico as a single person who is disabled and have moblity issues have a disability scooter and Electric wheelchair but can maybe two stairs i want to rent a one bedroom apartment furnished or not bringing my cat have 15000 a month income plus 30000 cash what do i need to do i would like to have a small pool moving from Canada been to Mexico many times pkease help hiw do i get a doctor and pain medication do i need a lawyer to set every up thinking about moving in 60 days
Comment from : Kari Neilson

Thanks for the input
Comment from : Scott Preto

On the downside you skipped health cost you need to point out health care the cost in your area vs the national averagebrOn the upside you skipped pensions, retired military benefits and stock dividends Of course, some city and state pensions could meltdown and the stock market can tumble
Comment from : Randy Woods

Ty4 all this info Lots to think about I'm getting where i think I'm have much less time & better start doing what i have left on my bucket list
Comment from : Michele Blue

For those of you that retired before 65, what do you do about health insurance since you don't get Medicare until at 65?
Comment from : E

Can’t wait to be debt free I have 38k left on my mortgage and hope to have it paid off by my 26th birthday next year and jump out of the hamster wheel 😊
Comment from : Austin Williammee

I’m kind of fortunate in that I actually like my work If I wasn’t getting paid to do it, I would probably still do it as a hobby The only thing I don’t like about work is the feeling that I’m being forced to do it It’s kind of like how athletes start hating their sport because they are forced to do it instead of doing it for fun I probably have enough money to retire right now By instead of doing that, I just decided to keep working on my own terms I make my own hours, don’t stress about deadlines, and don’t worry about getting laid off It’s amazing how enjoyable your job gets when you don’t actually need to do it I guess I’m “quiet retiring”
Comment from : kesayo

Excelente información thank you so much
Comment from : Guzman

So if my net worth at age 41 is over 300k im doing ok for myself
Comment from : Adam

If I retire (stop working) at 65 but don't collect SS until 67, will my SS be less ?
Comment from : g w

Thanks so much for the very useful common sense advice !
Comment from : Bill Allen

helpful
Comment from : Jack Connelly

Thanks for the info Appreciate the data and insight This has been a valuable discussion
Comment from : Irish eyes

Good sh*t bro🤘🏻
Comment from : wreadd

Buy real estate before the fancy car even the worst house and fix it as you go the best move you can make to financial freedom
Comment from : bill liston

I bought real estate in California and retired at 39 Best thing I ever did besides having children! Next big opportunity coming soon! Be patient!
Comment from : Thomas Kelly

Exactly how many people do you know have saved $700,000 with a salary of $40,000 annually? Stop it!
Comment from : dominiicp

I’ve made the decision to retire at 61 My health can’t take it anymore I went to a neurologist for an MRI to see if I had early onset dementia (runs in my family) No brain issues, just stress I sat down with my husband and we ran the numbers for retirement I’ve had a very stressful government job, but I’m going out on a great pension I’ve earned every penny of it too I live in California and I will obtain insurance on the health exchange at a reasonable rate I don’t want to make this political, but I’m thankful Obama was able to get this in place and I thank God Trump wasn’t able to destroy it I want to enjoy life without too much stress My father retired at 62 and broke his leg a year later Medical incompetence caused long term distress for him You just never know what life holds for you My husband almost died at the start of Covid It wasn’t Covid, it was a terrible accident Everyone needs to follow their own path Bill Gates has proven over the years that you will never have enough money even if you are the richest man on earth
Comment from : mominthe209

I was laid off when I was 55 years old, I had a financial advisor look at my wife's and my finances The best thing that came out of that conversation was that I was told that I really didn't need to go back to work, my wife kept working for another 5 years so she could get the most out of her pension, but because we had no debt and I had invested a lot before being laid off I was able to not have to get another job! My advice to everyone is to marry a school teacher and get rid of debt!
Comment from : Bill Ashby

You say 12 has a mortgage but what is living a rental lifestyle?
Comment from : CMo

did you account for capital losses when you accounted for income?
Comment from : Darth Negative Hunter

Thank you for a good video Sir
Comment from : Andrew Plantagenet

■■■ 61 now, retiring from the road (20 years piano/backup vocals with Sammy Kershaw 🎹 🎤 ) within a year Own rental property and my home (mortgage on both, but substantial equity) 1k SS at 62 (yea, sad but it helps) Stock market portfolio with a butt load of TSLA Any other TSLA hopefuls out there? 😄
Comment from : Steve Farmer Music

Thank you for the videos that remind us where we “are at” - although using government figures for averages is a laugh The Federal government really doesn’t get much right, nor close enough you want to plan your life around their numbers compared to your’s Best do your own research where you want to live compared to your income stream or what you assets are truly worth —- Anyways we retired when I was 56 years old so I could do missionary work It has worked out great Now I am 72 We are living in Baja Sur Mexico about a four minute walk from the beach on the Sea of Cortez IF we had followed all the standard “this how much you need” from financial planners WE WOULD HAVE NEVER RETIRED We are doing very-very well mainly because we own our home, in good health (part of the MX health system) and we HAVE NO DEBT Try to retire without debt is huge Financial freedom I did teach for a university online until I reached my social security retirement age Before that - I have a pension Since turning 62 I haven’t worked except being a missionary pastor (which I take no salary) We are blessed It is getting tougher for people to have the courage to retire 😊 IF thinking about moving somewhere totally new - think about renting for a few or several months before making a total commitment Just a thought Retiring and moving to new places create a lot of surprises - some good and some are challenges
Comment from : Flash

Biden ! 😡
Comment from : Jerry Briggs

I was offered an early retirement package at age 65 and never looked back I originally planned to be working until age 67 or 68 Instead, I do volunteer work doing what I love The key is to eliminate debt and having a plan included all your expenses
Comment from : Jeff Eby

i drove a semi 42 yrs at the age of 62 i retired i owe $2900 a month its tight but worth every penny no clock no pressure and no stress
Comment from : william bellamy

I’m getting close I just dropped my daughter off at college in Anderson South Carolina I really like it there It’s a possibility that I retire there Great video
Comment from : Bruce Cann

Valuable information Thanks
Comment from : Mark Entezari

What about my pension ? I like my pension
Comment from : Bruins Fan

How many are goign to have to come out of retirement after this latest inflation surge? Food, fuel, energy, taxes, insurance & healthcare are all on a meteoric rise while fixed incomes will no longer cover basic living expenses
Comment from : JS

I'm not retired, I was kicked to the curb in late 2020, sat on the sidelines in 2021 watching with amazement, while former coworkers reached out to me asking how to avoid the Corporate mandates I don't care how much money you saved for retirement, it won't help if your dead, and THAT was the entire point all along
Comment from : Tom Karnes

I enjoy your videos! Female, 56, Los Angeles
Comment from : Lisa Smith

Very informative, thank you! I plan to buy a cheap land someplace in Fl and just put a cheap Tesla home, do u think that will lower my property taxes?
Comment from : m f

To find an agent like you it will be difficult, thank you for your video and all your information
Comment from : casq882

I own 5 rental properties outright I make 8,000 per mo passive income Also 364300 social security In the state of tenn
Comment from : Truth is Hard

So true,& very interesting,( from sierra leone West Africa)
Comment from : Hawa Kabba

?? #3 - how was the $47k/ per year for average retiree income at 65 calculated? Did it roll in everyone including the very wealthy Does it include people who are taking early SS? Are some of these still working? $47/y seems at odds with net worth Thanks
Comment from : Peter

Started SS at 70, married Combined SS income adequate to pay all Own home on leased land in the US with monthly at under $1K Additional annuity yields about 50 of SS amount Seems like most retirement calculators do not account adequately for SS income According to most our income from savings would put us in poverty mode But with SS income we are quite comfortable
Comment from : Gobilinski

He is totally right with time is the one thing you will never get more off The other thing is you really want to be also prepared that when your time comes, you can stand before God and know that you are forgiven and excepted by God
Comment from : tansailor

I am retired from an Auto and Home Insurance Co and worked for 22 years in Orange County, California I retired in September 2021 I bought a house here brand new in 1983, when I was 27 years old At that time, I was working 2 jobs seven day a week My father is a retired Income Tax Consultant and he always to me to save every penny when your young, so you will not have to struggle when you get older I have a rental property a 2 bedroom and 2 bath condo I bought in the early 90's My total income is $321600 a month from SSI and rental I have a 401-K that I had for 22 years with the company and paid off all my Debt of $1300000 with a 401-K roth, that I accumulated for 5 years Put the rest in my checking account I am looking for a vacation home but I have been told to wait until prices of the housing market go down So! I am waiting
Comment from : thomas franco