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In 2023, the average retired worker got about $1,800 a month in Social Security retirement benefits. For a couple with similar earnings histories, that makes a total of $3,600 a month or $43,200 a ...
The state has both the highest average monthly mortgage cost ($5,584) and the highest average monthly cost of living expenditures for a retired couple ($4,117).
David Blain, a financial advisor with BlueSky Wealth Advisors, provided this example of a typical pre-retirement budget: Housing: 25-30%. Utilities: 5-10%. Food: 10-15%. Transportation: 10-15%.
The Bureau of Labor Statistics reports average expenses for those ages 65 and older at $52,141 — that's $4,345 a month. Compare that with an average income of $55,335 for that same age bracket ...
According to Fidelity, a typical retired couple aged 65 in 2023 can expect to spend $315,000 on medical costs in retirement. That’s a huge figure, so it’s crucial to plan for these expenses.
There's a big difference between the "average" married couple and the "above-average" ones. While some are figuring out how to balance a budget, others plan early retirements, buy vacation homes ...
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