The Average Monthly Retirement Income in Every State — How Does Yours Stack Up?

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Quick Summary

• The mean retired household successful the U.S. brings successful astir $2,302 a month, but wherever you unrecorded makes a large difference. Some states mean good supra $3,000 a month, portion others beryllium person to $1,700, often leaving small borderline beyond Social Security.

• If you're trying to fig retired whether your status income volition really agelong wherever you unrecorded oregon program to retire, it tin assistance to locomotion done the numbers with a fiscal advisor. SmartAsset lets readers take a abbreviated quiz and link with fiscal advisors for free.

Retirement income looks precise antithetic depending connected wherever you live. In immoderate places, the emblematic retired household has capable income to comfortably screen basics positive question and discretionary spending.

In others, the borderline is overmuch thinner, with galore households leaning heavy connected Social Security.

Analysis of U.S. Census Bureau American Community Survey information shows the mean retired household status income nationally is $27,617 per year, oregon astir $2,302 per month.

That's an average, not a target, and it includes a wide premix of households, from retirees surviving chiefly connected Social Security to higher-income households drafting from pensions and concern income.

At the apical extremity of the range, Washington, D.C. astatine $43,080 per twelvemonth and Alaska astatine $36,023 per twelvemonth basal out. Indiana with $20,542 per year, and West Virginia $21,118 per twelvemonth fertile are among the lowest.

The takeaway "average" status income is often arsenic overmuch astir section economics and payment structures arsenic it is astir idiosyncratic planning. Higher wage histories tin construe into larger Social Security checks, definite regions person much pension prevalence, and cost-of-living differences power wherever retirees settle.

For a batch of households, Social Security is the foundation. As of November, the mean monthly payment for retired workers was astir $2,013, according to a Congressional Research Service summary of Social Security data.

That matters due to the fact that galore states successful the array beneath person mean monthly full status income successful the ballpark of $1,700 to $2,300. If your household income successful status is adjacent to the Social Security average, you whitethorn person little country for rising healthcare costs, lodging shocks, oregon helping big kids than you think.

If you're trying to recognize whether your status income volition really screen your costs wherever you live, it tin assistance to locomotion done the numbers with a fiscal advisor. You don't request a circumstantial nett worthy oregon a finished plan. SmartAsset lets readers instrumentality a abbreviated quiz and connect with fiscal advisors for free.