Many Americans strive for a good retirement income by 2025, but the exact figure can be difficult to predict. Economic factors such as inflation and rising health-care costs have made retirement planning more complex.
While Social Security provides a base income, with an average monthly payment of $1,976, most retirees require additional income to cover their expenses.
For most people, an average retirement income of $5,000 per month is sufficient to meet basic needs, but the figure can vary dramatically depending on location, spending habits, and health conditions, so experts also make estimates to determine what a good average income would be to maintain stability.
How much is a good monthly retirement income in 2025?
According to financial planning experts contacted by CBS, “a good retirement income is about 75% to 85% of the gross income earned in your last year of work”.
“For someone earning $120,000 annually before retirement, this threshold means needing between $90,000 and $102,000 per year, or about $7,500 to $8,500 in monthly retirement income,” the site’s authors explained.
What is the current reality for retirees?
According to the most recent data, the average retirement income in the United States is $60,000 per year, which is slightly lower than experts’ estimates and demonstrates that the situation is not straightforward.
