The Average Retiree
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Americans need to starting saving more for retirement. Many workers enter retirement totally reliant on Social Security benefits to support them. These benefits are not meant to be a sole source of income, they are meant to be a supplement to help after you are no longer working. On average, workers save $131,000 dollars to live off of in retirement. That cannot support a decent quality of life for the 20+ years you could spend in retirement. The average monthly check from Social Security comes out to $1,341, or $16,092 each year. This leaves the average retiree to make up $25,311 in order to meet the average annual expense of $41,403. For more information on this topic, visit this article by Todd Campbell with mySanAntonio.com.