How much money does a retiree need to live well in America?

Washington, United States. – The Elderly It is an inevitable stage in life, because fatigue does its job and prevents a person from continuing to work, so many decide to save throughout their youth and not fight when they are 65 or older. But how much money are we talking about to live a comfortable life? Especially in countries like the United States, where life is expensive.

According to the United States Census Bureau, the population of 65 years and over in the country has grown exponentially over the past 10 years, and thus the resources to lead a comfortable life have become a necessity for this sector.

On the other hand, I collected numbers before Mundi Index In 2018, they indicated that 16.03 percent of the US population is elderly, a total of about 23.5 million men and 29.2 million women.

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How much money does a retiree need?

The retiree spends approximately $987,000 (equivalent to 24 million lempira) at the time of their retirement, which means they will have to use about $50,876 annually (1,225,000 lempira), according to 24/7. Wall Street.

It is worth noting that the calculation proceeds from the assumption that people over the age of 65 are retired. However, since 2003, the retirement age is 67 for those born after 1960.

In this sense, those born after 1929 need 40 retirement credits, roughly a decade of work, according to a report from Social Security Administration.

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The previous figure is the minimum time, because it must be remembered that the more years of work, the greater the amount of retirement that will be received in order to lead a comfortable life.

Finally, it must be borne in mind that the amount will not be sufficient enough depending on the standard of living associated in each US state in which the person is located and the costs they must cover in their old age, resulting in an increased need for higher income and savings to subsequently obtain better pensions. after retirement.

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Sacha Woodward

"Wannabe writer. Lifelong problem solver. Gamer. Incurable web guru. Professional music lover."

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