Many Americans spend their lives working hard and dreaming of the day they can finally retire.
Storyboard
Jaw-Dropping Stats About the State of Retirement in America
Of the 47.8 million Americans ages 65 and older, the average income is only $38,515 dollars, according to the U.S. Census, and their average net worth is $170,516. With numbers like that, saving for retirement can be challenging. Here are other shocking statistics about the state of retirement in the U.S.
No matter how old you are, retirement should be a goal you're planning for and working toward.
You're planning to retire in the not-so-distant future, which means you'll be living on a fixed income.
The average monthly payment for Social Security retirement benefits is $1,613.77.
Many people downsize in retirement as a way to cut back on expenses and make their lives simpler.
