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What is the average retired couple's income?

Updated March 23, 2017

While your retirement income will depend, somewhat, on your personal savings, you should understand what the average retired couple's income is. This might help you know whether you make more or less than most other retired people. If you're far below the average, you may need to take some serious action to increase your future retirement income.

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Knowing the average income for retirement couples is useful only as a general guideline; obviously, your financial needs differ from other people's. There are many factors that go into calculating average incomes. According to the Social Security Administration, 40 per cent of retirement income is provided by Social Security, while 20 per cent is obtained through part-time work in retirement. However, the SSA also found that employer retirement plans provide 18 per cent of total retirement income, personal savings supply another 18 per cent, with other sources providing 4 per cent.


Using the estimates provided by the Social Security Administration, the average retired couple makes £2,362 per month. This translates to £28,353 annually. If you are on track to make at least this much money, you know you are about average with the rest of the country.


The average couple's retirement income doesn't reflect whether the couple is living comfortably; it only tells part of the story. Your financial goals and needs really drive your retirement income needs. If your liabilities going into retirement are £32,500 per year, the average income won't be enough for you. Use the average as a rough guideline, knowing even then that this might not have any bearing on your own personal retirement income needs.


Consider saving as much as you can for retirement. Your retirement income needs are always determined by your financial goals. A financial planner can help you determine a reasonable dollar amount to target. You also can use a financial calculator on the Internet to give you an estimate of your own personal income needs.

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About the Author

Alibaster Smith

I am a Registered Financial Consultant with 6 years experience in the financial services industry. I am trained in the financial planning process, with an emphasis in life insurance and annuity contracts. I have written for Demand Studios since 2009.

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