Retirement Retirement Planning

Here's the Average Monthly Retirement Income for Americans Over 75

How do you compare to those in their late 70s?

By Josh Koebert , Edited by Laura Hohenstein

Updated Sept. 14, 2026

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Even with a realistic retirement plan in place, it's common for retirement income to change in the later decades. Earnings can disappear, pension income can be fixed, and savings withdrawals may change. Add in rising health-related expenses, and it's often difficult to know just what you'll have to live on when you hit your 70s.

Despite that, it can be helpful to see how you compare. We're sharing the median income for those 75 and older to give you some context. Use it not just to estimate a future lifestyle, but to anticipate how well your current income can reliably cover future needs.

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The typical household income for those over 75

Recent Census data shows that in 2024, households headed by an American age 75 or older had a median income of $47,790. This works out to roughly $3,983 a month for the entire household.

Individual earners earned around $30,370 for that same year, or $2,531 per month. This gives you a bit better idea of what each person could earn, but with households made up of single people, single earners, or even two earners, the household number may be a better indicator.

For reference, this isn't the average income, but rather the median. It demonstrates that around half of households earned more and half earned less. It may be a truer comparison than the mathematical average.

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What counts as retirement income?

Whether that median income number seems high or low to you may depend on what's included. Income is more than the monthly Social Security payment. It can include earnings from a part-time job, pensions, annuities, interest on savings or investments, dividends, rental income, and certain public benefits.

It's also pre-expense income and doesn't account for where someone lives, whether they have debt to pay off, their insurance premiums, or whether they have a spouse with significant health needs.

Consider, for example, two $2,000 monthly Social Security benefits producing about $4,000 in gross household cash flow. It may not show what's left after property tax, food, utilities, and Medicare premiums.

Why Social Security matters so much after 75

Even with all the varied sources of income for retirees, most depend heavily on Social Security. This makes sense when you consider that paid work is less common for people in their later years. They may have rental income, for example, but it's not as easy to continue being active in the workforce at this age.

In 2014 (the last time this data was tracked), 57% of people ages 75-79 lived in households receiving at least half of family income from Social Security. This rises to 61% in those 80 and older. The trend shows an increased dependence on this money, likely as work decreases, even though Social Security is designed to only replace part of pre-retirement earnings.

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Spending can go down, but not for health expenses

Older households may spend less on some items, such as work-related commute expenses, student loans, or a mortgage on a larger home. Between downsizing and fewer familiar responsibilities, it's possible to shave the budget to meet the decreasing income over time.

However, health care spending is highly unpredictable and can skyrocket after a diagnosis, hospitalization, disability, or need for long-term care. The Bureau of Labor Statistics states that 15.6% of total spending for households with a reference person age 75 or older went to health care. This is much higher than the 8.8% spent for those 55-64.

So, while Medicare can help substantially, it doesn't take care of all expenses, and premiums can cut into that decreasing monthly income, as well.

Compare the benchmarks with your personal needs

The median household income numbers are interesting, but they aren't very useful on their own. To put them into perspective, total up your own reliable monthly income with actual, recurring costs. For example:

Guaranteed income, such as Social Security, pension, annuity, steady rental income, and dependable part-time income
Essential bills, including groceries, utilities, housing, transportation, insurance, debt payments, and Medicare premiums
Health care costs such as prescriptions, copays, dental, vision, and hearing needs
Emergencies and maintenance costs, including home and car repairs or travel to funerals
Irregular but planned costs, like gifts, annual home insurance payments, or property taxes

Subtract the costs from the income to see what you'll really need in retirement. It may or may not be near the median household income, and that can be OK.

How to handle an income gap

If the trend holds, and your expenses outpace your income in your 70s, there's still something you can do.

Start by cutting costs where you can. If you're helping an adult child or making donations to charities, it can be time to consider if this is sustainable. After that, pare down "just for fun" activities or expenses that you don't really need. You can also look at downsizing your home or car to just what's essential.

After that, you may find you need help from a local community organization or federal assistance. This isn't something to be ashamed of, and it can be something you use for just a short time in your retirement. The NCOA's free BenefitsCheckUp tool lets older adults see what programs are available, and they can be useful for any and all support service needs (not just financial).

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Bottom line

The $3,983 monthly median household income benchmark is just a snapshot of U.S. retirees and doesn't give enough context to know if it's enough for you. Rather than considering it a scorecard, use it to create your own action plan if you're living on just Social Security or can't keep up with expenses.

Include guaranteed income, expenses, and one emergency contact or benefits resource, so you aren't panicking if the worst happens. Revisit it annually, and don't be afraid to reach out to a financial advisor now, before you're dealing with a major life or health change. While you may never need this cash-flow contingency, simply having it can provide peace of mind.

FAQs

What income sources do people over 75 typically rely on?

Income may come from Social Security, pensions, retirement account withdrawals, annuities, investments, rental properties, public benefits, or part-time work. The mix varies considerably among households.

Why might retirement income decline after age 75?

Employment income may disappear, savings can be depleted, and pension payments may not keep pace with inflation. At the same time, medical and long-term care costs can rise, putting additional pressure on a retiree's budget.

What can retirees do if their expenses exceed their income?

Start by reviewing discretionary spending, debt, housing, and transportation costs. Retirees can also explore assistance programs through tools such as the National Council on Aging's BenefitsCheckUp and consider speaking with a financial advisor about sustainable withdrawals or other ways to close the gap.

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