GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you’ve got the option to read more about oureditorial guidelinesand our products and servicesreview methodology.
It can be helpful, and perhaps mind-easing, to take a look at the numbers.
Here are some insights into income and spending forretired couples.
Income for a Retired Couple
Lets start with the average income for a retired couple.
Per theUnited States Census Bureau, the median before-tax income for all households in 2023 was $80,610.
However, it may be more helpful to look at the median income for married couples 65 and older.
That number was $84,670 in 2023.
Sources of Income
A retired couple may have several sources of income.
The biggest expenses for retirees each year include shelter, transportation, healthcare and food.
Planning for Retirement
Even if youre nearing retirement, its not too late to plan.
So where should you start?
According to the Oxford Advisory Group, a first step might be to set retirement goals.
Determine when you want to retire and what kind of lifestyle you envision for yourself during retirement.
As a couple, it can be helpful to take a look at what you expect from Social Security.
More From GOBankingRates
Share This Article:
