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I'm 62 With $800k Saved and $2,600 Social Security Income. How Should I Build My Retirement Budget?
Yahoo Finance·2025-09-24 04:00

Combining 31,200inannualSocialSecuritybenefitswith31,200 in annual Social Security benefits with 32,000 in investment income gives you a pre-tax income of 63,200.Ifyouresingleandliveinalocationwithaveragelivingexpenses,thismaybeenoughtofundacomfortableretirement.AccordingtotheCensusBureau,themedianrealinflationadjustedincomeforahouseholderage65orolderin2022was63,200. If you’re single and live in a location with average living expenses, this may be enough to fund a comfortable retirement. According to the Census Bureau , the median real inflation-adjusted income for a householder age 65 or older in 2022 was 50,290, about $12,910 less than what you would have in our hypothetical scenario. However, a financial advisor can help you design a retireme ...