Here is the average income for retirees in the US — how do you compare?

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Americans hoping to retire soon aren’t likely to feel that the timing’s ideal. Even those with decades worth of savings are taking huge hits, no thanks to the triple whammy of inflation, high interest rates and a volatile stock market.

The current rate of inflation sits at 3.0% as of September 2025, up from 2.9% in August.

But have incomes kept up? With fears of the upcoming election upsetting the markets, that question suddenly matters much more. And is there any hope Social Security can come to a retiree’s rescue?

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For many Americans who count on Social Security as the foundation of retirement income, it’s next to impossible to make do. Social Security retirement benefits averaged $1,976 per month in January 2025, for a total of $23,712 per year, according to the Social Security Administration. Broken down weekly, that’s roughly $456 — not exactly a king’s ransom.

And even if your retirement income does include some money from other sources, is the final tally enough to retire the way you want to?

What the average American retiree makes

Americans 65 years and older reported median weekly earnings of $1,198, or $62,296 per year, so far in 2025 according to the United States Census Bureau. So what else can you do to make sure you have enough money in retirement?

If you prepare yourself by consistently contributing to your retirement accounts, like an IRA or 401(k), you can build a comfortable nest egg to ease some of that financial worry. And there are plenty of options to diversify your IRA so all your retirement eggs aren’t in one basket.

Take for example a gold IRA. Gold can be a potential ‘safe haven’ to mitigate the impact of inflation. Typically, it’s also more stable than stocks during economic downturns and recessions. In fact, gold has increased in value sevenfold over the last 100 years.

Priority Gold is an industry leader in precious metals, offering physical delivery of gold and silver. Plus, they have an A+ rating from the Better Business Bureau and a 5-star rating from Trust Link.

If you’d like to convert an existing IRA into a gold IRA, Priority Gold offers 100% free rollover, as well as free shipping, and free storage for up to five years. Qualifying purchases will also receive up to $10,000 in free silver.

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To learn more about how Priority Gold can help you reduce inflation’s impact on your nest egg, download their free 2025 gold investor bundle.

It is also worth noting, you can diversify your retirement investments by investing your money into the real estate market within your Roth IRA.

For example, firms like First National Realty Partners allow you to do just that.

FNRP is a private equity firm that gives accredited investors access to necessity-based commercial real estate without the hassle of being a landlord. With a minimum investment of $50,000 investors have the potential to passively collect distribution income. The firm has developed relationships with the nation’s largest essential-needs brands, including Kroger, Walmart and Whole Foods, and provides insights into the best properties both on and off-market.

The FNRP team makes investing in commercial real estate convenient and simple by offering white-glove service to investors. They act as the deal leader, providing expertise and doing the legwork streamlining the process, while investors can use their secure platform to explore available deals, engage with experts and easily make an allocation.

Mogul is a real estate investment platform offering fractional ownership in blue-chip rental properties, which gives investors monthly rental income, real-time appreciation and tax benefits — without the need for a hefty down payment or 3 A.M. tenant calls.

Founded by former Goldman Sachs real estate investors, the team hand-picks the top 1% of single-family rental homes nationwide for you. Simply put, you can invest in institutional quality offerings for a fraction of the usual cost.

Each property undergoes a vetting process, requiring a minimum 12% return even in downside scenarios. Across the board, the platform features an average annual IRR of 18.8%. Their cash-on-cash yields, meanwhile, average between 10 to 12% annually. Offerings often sell out in under three hours, with investments typically ranging between $15,000 and $40,000 per property.

Every investment is secured by real assets, not dependent on the platform’s viability. Each property is held in a standalone Propco LLC, so investors own the property — not the platform. Blockchain-based fractionalization adds a layer of safety, ensuring a permanent, verifiable record of each stake.

Getting started is a quick and easy process. You can sign up for an account and then browse available properties. Once you verify your information with their team, you can invest like a mogul in just a few clicks..

Read more: Warren Buffett used 8 simple money rules to turn $9,800 into a stunning $150B — start using them today to get rich (and then stay rich)

How much will you spend in retirement?

To answer that question, a number of critical factors must be addressed: Your location and cost of living, your overall health, your monthly expenses and your discretionary spending.

The U.S. Bureau of Labor Statistics broke down the expenses of those 65 and older. Taking into account combined income sources, including savings and Social Security benefits, Americans aged 65 and over spent an average of $57,818 as of 2022 — and with the inflation rates we’ve seen in the last two years, that figure will likely be higher as of the next census. Especially once medical expenses are factored in, it’s risky at best to rely on Social Security alone to cover all your retirement expenses.

Of course, retirement expenses and essential purchases are inevitable. But you can make the most out of them by downloading the Acorns app. With Acorns, when you make a purchase, the app automatically rounds up the total cost to the nearest dollar and invests the remainder in a diversified portfolio. So even when you have to spend, you're investing money at the same time.

You can also link these investments to your IRA, so you’re maximizing your retirement savings with every purchase you make.

With expenses often outpacing income, it’s no wonder that many American retirees feel the need to re-enter the workforce.

So what will it be: back to the grind or back to the drawing board? If you aren’t sure about your next steps, consider meeting with a financial advisor to figure out a plan.

Searching for one doesn’t need to be a long stressful process, FinancialAdvisor.net can help you find an advisor quickly and easily — and the platform is free to use.

To ensure your retirement fund is on the right track— and help you spend less time worrying about it — FinancialAdvisor.net matches you with vetted financial advisors suited to your unique needs. With no fees to get started, you can browse your advisor matches with FinancialAdvisor.net’s comparison tool and book a free consultation in just minutes.

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This article originally appeared on Moneywise.com under the title: Here is the average income for retirees in the US — how do you compare?

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

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