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Old 03-16-2011, 01:40 PM
 
Location: Carson City, NV
52 posts, read 60,955 times
Reputation: 39

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Hi all, I have a question. We have been retired, collectively, for 3 years. Five years ago we bought a new RV in anticipation for traveling the US when retired. We have been blessed to be doing just what we set out to do. Yes, our income has gone down since retireing, but between our pensions and SS, we are able to live our dream.

Question: Our total monthly dollars now are $3500.00. (pension & SS). Is this considered average monthly dollars for retired couple, or is it higher or lower?

Reason for Question: Needing to know what bracket/place we would fall under as far as retirement income is considered.

Thanks for your time, and have a great day!
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Old 03-16-2011, 08:07 PM
 
2,217 posts, read 1,966,158 times
Reputation: 2709
Unsure when you say "what bracket" you fall into in retirement. Are you asking how your monthly income compares to most other retirees? There are probably some statistics on this available if you google it (if this is your question)

Off the top of my head, I would say you were in a mid range for retirees who have either been able to save for many years or for those fortunate enough to have a pension in addition to Soc. Sec. There are LOTS who will have much less, and some who will have more. But I can't give you any solid statistics. The answer you will get as a comparison will also vary according to what forum you are on. If you were on another forum to do with early retirement and financial matters, you will find there are many who will have more income because these are people for the most part who have managed to save a significant amount of money.

This forum is more a cross section of people and probably represents the average US citizen better, so you will see people who have much less than you have, and a few who have more.
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Old 03-16-2011, 08:55 PM
Status: "Missing my Gizmo. RIP my sweet boy." (set 18 days ago)
 
Location: Outside 1604
1,695 posts, read 1,761,491 times
Reputation: 3001
I would LOVE to have your retirement income. My husband is retired and brings in half of that, no SS yet. I am too young (55) to draw my retirement income, so I have to work. Thank God I have been blessed with a job I love, close to home. This job is not the job(s) I will get pension income from, just one for extra income to keep the lifestyle I am accustomed to (food, housing, gas, but mostly property taxes :-( ).
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Old 03-16-2011, 09:27 PM
 
47,474 posts, read 54,077,871 times
Reputation: 16633
The only thing I coud find is reported income average of a little over 29000. But that can be deceivng as many have wealth far in access of what they draw.
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Old 03-16-2011, 09:57 PM
 
5,711 posts, read 7,071,903 times
Reputation: 7236
Quote:
Originally Posted by rvwife01 View Post
Reason for Question: Needing to know what bracket/place we would fall under as far as retirement income is considered.
Just out of curiosity....why does one need to know this? (As opposed to just wanting to know the answer.)
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Old 03-17-2011, 03:10 AM
 
34,688 posts, read 32,958,438 times
Reputation: 20699
im not sure of the question.
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Old 03-17-2011, 06:50 AM
 
7,329 posts, read 6,769,990 times
Reputation: 7990
Quote:
Originally Posted by rvwife01 View Post
Hi all, I have a question. We have been retired, collectively, for 3 years. Five years ago we bought a new RV in anticipation for traveling the US when retired. We have been blessed to be doing just what we set out to do. Yes, our income has gone down since retireing, but between our pensions and SS, we are able to live our dream.

Question: Our total monthly dollars now are $3500.00. (pension & SS). Is this considered average monthly dollars for retired couple, or is it higher or lower?

Reason for Question: Needing to know what bracket/place we would fall under as far as retirement income is considered.

Thanks for your time, and have a great day!
http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/13/~/average-monthly-social-security-benefit-for-a-retired-worker

Quote:
The average monthly Social Security benefit for a retired worker was about $1,177 at the beginning of 2011. This amount changes monthly based upon the total amount of all benefits paid and the total number of people receiving benefits.
As most are couples that would be $2,354. In California or New York that would be poverty but in some areas of the country, assuming no debt, owned house and small tax burden, you would be able to make it comfortably as long as you didn't go wild.

As far as pensions who knows?
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Old 03-17-2011, 07:55 AM
 
Location: Forests of Maine
23,159 posts, read 31,859,033 times
Reputation: 9961
Quote:
Originally Posted by rvwife01 View Post
... Question: Our total monthly dollars now are $3500.00. (pension & SS). Is this considered average monthly dollars for retired couple, or is it higher or lower?

Reason for Question: Needing to know what bracket/place we would fall under as far as retirement income is considered.

Thanks for your time, and have a great day!
My pension is $1490/month.

I am not yet eligible for SS, when I do get it, my pension will be reduced by the SS amount. So that my gross will remain the same.



We also bought a motorhome. After 4 years with it, we saw that it had became a money pit. We could not afford to feed it.
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Old 03-17-2011, 08:45 AM
 
2,917 posts, read 4,618,821 times
Reputation: 2900
Quote:
Originally Posted by mathjak107 View Post
im not sure of the question.
"Question: Our total monthly dollars now are $3500.00. (pension & SS). Is this considered average monthly dollars for retired couple, or is it higher or lower?"

Simple, the OP simply asked where they stand relative to other retired couples, income-wise. The answer - they are about in the middle or perhaps slightly over average based on the answers provided here.
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Old 03-17-2011, 09:46 AM
 
5,711 posts, read 7,071,903 times
Reputation: 7236
Quote:
Originally Posted by ETex2 View Post
"Question: Our total monthly dollars now are $3500.00. (pension & SS). Is this considered average monthly dollars for retired couple, or is it higher or lower?"

Simple, the OP simply asked where they stand relative to other retired couples, income-wise. The answer - they are about in the middle or perhaps slightly over average based on the answers provided here.
Huh?

There are no answers pertaining to overall retirement income provided so far (other than the OP combining SS & pension income). The only income mentioned by others is average Social Security benefit. That is a far cry from average overall retirement income.

Case in point: My wife and I are retired and have no Social Security income. But our retirement income is significantly higher than the OP's.

As you stated, the OP asked where they stand relative to other retired couples, income-wise (not Social Security-wise).

Not so simple after all, is it?
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