Passive Income for Retirees - Income Ideas for Retirees

LOS ANGELES - March 25, 2023 - PRLog -- Your search for the following terms brought you here:

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Here's a question that many people are asking:

What is the average monthly income for retirees?
According to U.S. Census Bureau data, the average retirement income for retirees 65 and older in the United States decreased from $48,866 in 2020 to $47,620 in 2021.

What is the average retirement income?
The average income for U.S. adults 65 and older is $75,254. The median income for U.S. adults 65 and older is $47,620. Average annual expenses for adults 65 and older are $48,872. The average monthly Social Security benefit for retired workers is $1,681 and is set to rise to $1,827 in 2023.

What is a comfortable retirement monthly income?
A good retirement income is about 80% of your pre-retirement income before leaving the workforce. For example, if your pre-retirement income is $5,000 you should aim to have a $4,000 retirement income.

What is the biggest expense in retirement?
Although healthcare costs take up an increasingly large chunk of overall expenses in retirement, for most retirees the biggest expense is the same one they faced throughout much of their adult lives: housing. Overall housing costs don't just include monthly mortgage or rent payments.

How much monthly income do most retirees have?
How much does the average retired person live on per month? Based on Census Bureau numbers, the average retired person has $8,458 in monthly income.

What happens if you don't earn this much money?

Some seniors are embarrassed to admit that they have not achieved this level of retirement income.

But some actions can be taken.

Investing. Put money into stocks/mutual funds/bonds, and get dividends.

Real estate! Be a landlord, and have renters.

Side business. Not passive at all, but can make a decent chunk of change.

Here is a site that can help you start with minimum expense.

http://paidletter.com/passive-retiree-income