Millions of Americans retire with little or $0 in savings — here’s how they manage to make it work regardless

Although galore Americans judge they request $1.26 cardinal to discontinue comfortably, astir autumn abbreviated of that goal. (1) In fact, millions of seniors discontinue with small oregon nary savings astatine all.

Empower reports that the median nett worthy for Americans successful their 50s is $191,857, rising to conscionable $290,447 for those successful their 60s — acold beneath the target. (2) A 2024 AARP survey recovered that 1 successful 5 adults implicit 50 person nary status savings astatine all. (3)

Yet contempt these shortfalls, galore retirees find ways to get by. Data suggests that a minimalist status whitethorn not beryllium arsenic bleak arsenic galore fear. Here’s a person look.

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The bully quality for retirees is that Social Security sum is astir universal. According to the Pew Research Center, astir 86.9% of Americans implicit 65 person status oregon disablement benefits. Among those 75 and older, that fig rises to 92.6%. (4)

In different words, Social Security serves arsenic a captious information nett for those with small oregon nary savings. As of August 2025, the mean monthly payment is $2,008, oregon $24,096 annually, according to the Social Security Administration (SSA). (5)

While that magnitude whitethorn not beryllium capable to unrecorded connected alone, astir retirees don’t unrecorded alone. According to 2022 Census data, lone 21% of men and 27% of women aged 65 to 74 unrecorded by themselves. (6) Most unrecorded with a spouse oregon successful shared arrangements, meaning galore payment from dual Social Security payments — totaling an mean of $48,192 per twelvemonth for a couple.

In addition, immoderate retirees tin supplement that income with savings. Based connected the aforementioned Empower data, if a household successful their 60s has a median nett worthy of $290,447, past an yearly 4% withdrawal complaint could supply $11,618 successful further income.

In short, galore retirees — contempt humble oregon adjacent nary savings — tin trust connected a operation of Social Security and constricted savings to enactment a basal but sustainable retirement. And for many, expenses successful status are little than expected.

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Living expenses often diminution successful retirement, mostly due to the fact that galore retirees ain their homes outright.