GITNUX MARKETDATA REPORT 2024

Must-Know Retirement Income Statistics [Current Data]

Statistic 1

"Only 23% of American workers are very confident they will have enough money for a comfortable retirement."

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Statistic 2

"66% of people aged 21 to 32 have absolutely nothing saved for retirement."

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Statistic 3

"The average retirement income in 2019 was $48,000 in the U.S."

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Statistic 4

"In 2021, the average monthly retirement income from Social Security is $1,543."

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Statistic 5

"In 2016, over 60% of retirees relied on Social Security as a major source of their income."

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Statistic 6

"Nearly 25% of retired Americans feel life is worse in retirement than it was while working."

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Statistic 7

"Only 48% of American workers participate in a workplace retirement plan."

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Statistic 8

"On average, retirees are $28K short per year of what they need to live comfortably."

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Statistic 9

"21% of Americans have no retirement savings at all."

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Statistic 10

"Over 50% of people over 60 years of age say Social Security will be their primary income during retirement."

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Statistic 11

"The average retiree spends about $4600 on out-of-pocket healthcare expenses each year."

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Statistic 12

"9 out of 10 people aged 65 and older receive Social Security benefits."

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Statistic 13

"The percentage of retired people with retirement savings less than $1,000 jumped to 33% in 2019."

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Statistic 14

"Excluding Social Security, 45% of workers expect to rely on personal savings and investments for income during retirement."

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Statistic 15

"Over half of retirees retired earlier than they expected."

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Statistic 16

"Among retired households, 35% receive income from assets."

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Statistic 17

"44% of retirees report they are experiencing a higher standard of living in retirement than when working."

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Statistic 18

"The average retiree withdraws 8% of their savings per year, exceeding the recommended 3%-4% rule."

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