Here's the Average Monthly Retirement Income for 65-Year-Old Americans

If you're nearing retirement age, you may be wondering what the average monthly income for retirees is. These numbers could give you an idea of what a typical person in retirement takes home each month and uses to cover their expenses.

Of course, retirement income could vary significantly depending on the person. Some people save for decades in a retirement plan, while others rely primarily on Social Security income to pay their bills. Some people live in high-cost-of-living areas to stay near family, while others move to more affordable places. Here is more information about the average retirement income for Americans.

Where does retirement income typically come from?

Retirement income could come from many sources. The most common ones are Social Security, 401(k) income, and pension income. There are also other income types like alimony, dividend income, rent, royalties, and more. Some retirees also work part-time or own a small business. The United States Census tracks the total income from several different age groups, so you could get an idea of the average monthly income for retirees.

The median and average monthly income for retirees

Recent Census data from the 2025 Current Population Survey Annual Social and Economic Supplement groups total household income by age. The data shows that the median household income for those headed by someone between 65 and 74 is $65,100 annually or $5,425 per month. However, the average (mean) household income is $97,620 or $8,135 per month.

Why it's important to distinguish between median and average retirement income

The average retirement income skews higher than the median because the median is the midpoint where half of the people surveyed have income above that number, and half are below it. The mean is the average, which could skew higher due to a smaller group of higher-income families that bring up the average. Most Americans would fall closer to the median income, rather than the mean.

How much do retirees get in Social Security payments on average?

The Census numbers mentioned above include Social Security income, but it's still useful to know the average Social Security income on its own. That's because many people rely heavily on Social Security for their retirement income and may not have a 401(k) or a pension. According to the Social Security Administration's data from December 2025, the average Social Security check someone age 65 received was $1,607.27. At age 66, it's $1,807.28, and at 67, which is the full retirement age for Social Security, it's $2,016.48. As evidenced, waiting a few years to collect your Social Security check could help you receive a larger amount for life.

Your retirement income depends on your prior earnings and your investments

Although these numbers show national averages, individual retirement income could vary significantly because each person's retirement income is based on their earnings throughout their lifetime as well as how much they saved and invested.

So, even though two people may be the same age, someone who earned more and contributed more to Social Security throughout their lifetime may have a larger check. Additionally, some people had access to 401(k) retirement plans from their employers, while others did not. Those who had more access to retirement plan contributions and other benefits, like employer matches, may have higher retirement incomes. 

Where you live impacts your total monthly retirement expenses

Whether or not your retirement income would cover your expenses depends on many factors, including where you live. Some states are more affordable to live in than others. Additionally, some states offer tax benefits to retirees that others don't. If you don't feel like you could afford your retirement lifestyle on your current monthly income, consider moving to a different area that's more affordable.

How to create a retirement plan that works

Ultimately, in order to create a retirement plan that works, it's important to compare your expected retirement income to your actual expenses. Add up your projected income, including pension income, Social Security income, income from rentals, and retirement account withdrawals. Then, compare that with the cost of your monthly expenses. If you need help determining the best withdrawal strategy for you or how to minimize your taxes, consult with a financial planner.

Bottom line

Knowing the average monthly retirement income for Americans could be helpful when determining if you're on track for retirement or not. However, it's important to remember that each retiree might have a unique situation. Some people have multiple streams of income, while others don't. If you're not sure whether or not you're on the right track financially, working with a financial planner could help you avoid financial mistakes, optimize your taxes, and create a retirement plan that's customized to your goals.

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