The Average Retirement Income In The United States For A Single Person

When you retire, you say goodbye to your nine-to-five job — and the long career you've put so many years towards. However, even if your retirement cake has already been cut, and your last day is done and over with, you are probably still earning income. In fact, if you've set yourself up properly in the years prior to retiring, you will still see a flow of earnings to your bank account due to various benefits, account distributions, and even a few extra ways to make money that do not involve Social Security.

How much money, though, does the average single retired person make in the United States? Retireable analyzed retirement income and population data from the U.S. Census Bureau, and found that, in 2022, the median household income for retirees who were 65 years of age or older was $50,290, while the mean household for the same age, inflated by higher earners, was $82,000 or more.

For most Americans, there are a few different ways they can earn money during retirement. You'll want to work closely with a financial advisor to make sure you avoid making certain mistakes in your 50s and that you've adequately prepared for how you are going to live on a budget that can meet your expenses, not exceed them. The Social Security Administration noted that, in 2025, an estimated 69 million Americans will receive Social Security benefit payments each month, and that the average monthly benefit for retired workers was $2,002.39, as of May 2025.

Vanguard's How America Saves 2024 report found that retirees over the age of 65 usually had a median income of about $4,560 each month from a mixture of revenue streams, or $54,700 annually. The report also found that the average American, in 2023, had about $134,128 saved in qualified retirement accounts, with the median account balance around $35,286.

If living on Social Security is not going to be enough for you in retirement, there are still a few ways you can ensure you live comfortably in your golden years, beyond just following the $1,000 dollar retirement rule. One way to start — which can be especially useful for retirees without kids — is by implementing the 4% rule roughly 20 years out from your retirement date. Approach Financial describes this as a best practice to help retirees estimate how much can safely be spent annually, which, depending on circumstances, should be around 4% of a single person's retirement savings.

Additionally, if you are worried about taking Social Security out in your early 60s, you can delay your benefits for several years, or look into maximizing catch-up contributions into retirement plans like a 401(k). Working with a financial planner can help you strategize optimizing your withdrawals, as well as the best way to cash in assets for your retirement. And, if you have to go back to work in order to make ends meet, there are many side-hustles and part time jobs tailored for retirees who are simply looking to earn a little extra income.