Income Budget for Retirement

This is a news story, published by Yahoo Finance, that relates primarily to Social Security news.

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Retirement Budget

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Average retiree budgets

SmartAsset

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I'm 62 With $1.6M Saved and a $2,800 Social Security Benefit. How Much Can I Spend in Retirement?

Summary

Nutrition label

84% Informative

A 62-year-old retiree with $1.6 million in an IRA and $ 2,800 in monthly Social Security benefits could start with an income estimate of approximately $97,600 .

Median retiree budgets range from about $24,000 to about $34,000 annually , according to surveys.

Some expenses, such as healthcare, are likely to increase in retirement.

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VR Score

Informative language

Neutral language

Article tone

informal

Language

English