The Average Retiree
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.