Key Takeaways
- Women aged 65+ have 82% of men's median retirement income at $42,000 vs $51,000.
- Black retirees have median income 75% of white retirees at $38,500 vs $51,200.
- Hispanic households 65+ median income $45,000 vs $52,000 non-Hispanic white.
- In 2022, the median annual retirement income for households headed by someone 65+ was $50,290, with 90% relying on Social Security.
- 52% of retirees have less than $10,000 saved outside Social Security.
- Top 10% of retirees hold 89% of total retirement assets in 2022.
- 401(k) median balance for ages 65-74 in 2023 was $232,710.
- Defined benefit pensions cover only 15% of private sector workers in 2022.
- IRA median balance for 60-69 year olds: $196,800 in 2022.
- By 2034, Social Security trust fund projected to cover 79% of benefits.
- 40% of workers expect retirement income to replace 70% of pre-retirement earnings by 2030.
- Retirement income adequacy gap: 44% of households at risk by 2025.
- Average Social Security benefit for retired workers in 2023 was $1,827 per month.
- Average monthly Social Security payment for couples in 2023: $3,103.
- 23 million retired workers receive average $22,000 annual Social Security in 2023.
Related reading
01 · Category
Demographics23 stats
01
Women aged 65+ have 82% of men's median retirement income at $42,000 vs $51,000.
02
Black retirees have median income 75% of white retirees at $38,500 vs $51,200.
03
Hispanic households 65+ median income $45,000vs $52,000 non-Hispanic white.
04
College graduates 65+ have 2.5x median income of high school grads.
05
Rural retirees median income 20% below urban at $42,000.
06
Married couples 65+ median income $72,000vs $40,000 singles.
07
Baby boomers median retirement savings $88,400.
08
Northeast retirees highest median income $58,000vs South $46,000.
09
Self-employed 65+ median income $55,000higher than employees.
10
Veterans 65+ median income $52,000vs $48,000 non-vets.
11
Immigrants 65+ median income 25% below natives.
12
LGBTQ+ retirees income 10% below average due to discrimination.
13
Homeowners 65+ have 40x net worth of renters.
14
Union households 65+ income 30% higher than non-union.
15
Widowed women 65+ median $38,000vs married $70,000.
16
Divorced retirees spousal benefit: 18% of total recipients.
17
Asian Americans 65+ highest median $65,000income group.
18
Low-income quartile 65+ income rose 5% adjusted 2019-22.
19
Non-citizen retirees median income $35,000lower.
20
Fraternal benefit societies provide $2B retirement income.
21
Blue-collar workers 65+ median $42k vs white-collar $62k.
22
Farmers 65+ median income $48,000from land sales.
23
Disabled retirees income 60% of non-disabled peers.
02 · Category
Income Levels23 stats
01
In 2022, the median annual retirement income for households headed by someone 65+ was $50,290,with 90% relying on Social Security.
02
52% of retirees have less than $10,000 saved outside Social Security.
03
Top 10% of retirees hold 89% of total retirement assets in 2022.
04
Average retiree income from earnings: $18,400annually for 65-69 group.
05
88% of income for bottom quintile retirees from Social Security.
06
Median net worth for 65-74 households: $410,000in 2022.
07
34% of retirees have income solely from Social Security.
08
Home equity accounts for 30% of retiree net worth average.
09
Withdrawals from retirement accounts average 4.2% annually.
10
Annuity income averages $1,200/month for purchasers.
11
Part-time work provides 15% of retiree income average.
12
Reverse mortgage payouts average $200,000lifetime income.
13
Rental income contributes 8% to upper quintile retiree income.
14
Median income replacement rate actual: 42% for 2022 retirees.
15
Capital gains from investments: 12% of retiree income top half.
16
Withdrawals exceeding 5% lead to 30% depletion risk in 20 yrs.
17
Dividends yield 2.5% average in balanced portfolios.
18
65% of retirees use rule of 55 for early 401(k) access.
19
Part A Medicare trust fund depletes 2034, 89% solvency.
20
Top 1% retirees average $4.5M annual income.
21
State pensions pay average $25,000to 2.5M retirees.
22
Bonds in portfolios yield 4.5% post-2022 rate hikes.
23
RMDs start at 73, average withdrawal $50,000/year.
03 · Category
Private Pensions23 stats
01
401(k) median balance for ages 65-74 in 2023 was $232,710.
02
Defined benefit pensions cover only 15% of private sector workers in 2022.
03
IRA median balance for 60-69 year olds: $196,800in 2022.
04
401(k) participation rate: 68% among private sector workers 2022.
05
Cash balance plans assets grew 12% to $200B in 2022.
06
Average 401(k) balance at retirement: $255,151for ages 65+.
07
Defined contribution plans hold $10.1 trillion assets end 2022.
08
Roth IRA conversions surged 15% in 2023 for retirement income.
09
Multiemployer pensions underfunded by $600B in 2022.
10
Target-date fund assets $3.5 trillion, 30% of 401(k)s.
11
HSA balances for 55-64: median $50,000for retirement health.
12
ESG funds in 401(k)s grew to 15% allocation 2023.
13
Solo 401(k) plans average balance $150,000for self-employed.
14
403(b) plans median balance $85,000for educators.
15
SEP IRA average contributions $30,000for small biz owners.
16
SIMPLE IRA participation 5 million workers, median $25k bal.
17
Cash value life insurance taps $500B for retirement income.
18
Profit-sharing plans contribute 7% average to DC balances.
19
Employee stock ownership plans cover 14 million, $1.4T assets.
20
Hybrid pensions growing 10% yearly to $150B assets.
21
Auto-enrollment boosts 401(k) savings rate to 8%.
22
Keogh plans for self-employed average $100k balance.
23
ESOPs distribute $20B annual income to participants.
More related reading
04 · Category
Projections23 stats
01
By 2034, Social Security trust fund projected to cover 79% of benefits.
02
40% of workers expect retirement income to replace 70% of pre-retirement earnings by 2030.
03
Retirement income adequacy gap: 44% of households at risk by 2025.
04
78 million Americans will be 65+ by 2036, straining income sources.
05
56% of Gen X expect shortfall in retirement income by 2040.
06
Longevity risk: 50% chance of living to 90, needing 25+ years income.
07
2030 projection: 25% drop in median replacement rate to 45%.
08
AI impact: 20% fewer jobs by 2040 affecting retirement savings.
09
Climate change costs to reduce retirement income 5-10% by 2050.
10
60% of millennials on track for 80% replacement rate by 2060.
11
Inflation-adjusted income needs 25% higher by 2040.
12
Robo-advisors manage $1T in retirement assets by 2025 proj.
13
Pension buyouts increased 20% in 2023 for income certainty.
14
45% of households risk running out by age 90.
15
Gig economy work to boost income 10% for 20% of retirees.
16
Healthcare costs erode 15% of retirement income annually.
17
Sustainable withdrawal rate drops to 3.5% with low bonds.
18
35% shortfall projected for average worker retirement.
19
Optimism rate for retirement security fell to 52% in 2023.
20
50% live to 85, needing $1.5M corpus at 4% rule.
21
SECURE 2.0 allows emergency withdrawals up to $1,000.
22
28% of Gen Z saving 15%+ of income for retirement.
23
4% rule success 95% over 30 years historical data.
report visual · Comparison
Retirement Income Statistics statistics snapshot
Selected headline statistics from verified sources for a stable visual baseline.
Women aged 65+ have 82% of men's median retirement income at $42,000 vs $51,000.82%
Black retirees have median income 75% of white retirees at $38,500 vs $51,200.75%
Union households 65+ income 30% higher than non-union.30%
Immigrants 65+ median income 25% below natives.25%
Rural retirees median income 20% below urban at $42,000.20%
LGBTQ+ retirees income 10% below average due to discrimination.10%
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Priya Chandrasekaran. (2026, February 13). Retirement Income Statistics. Gitnux. https://gitnux.org/retirement-income-statistics
MLA
Priya Chandrasekaran. "Retirement Income Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/retirement-income-statistics.
Chicago
Priya Chandrasekaran. 2026. "Retirement Income Statistics." Gitnux. https://gitnux.org/retirement-income-statistics.
Sources & references
57 datasets cited across this report