Average take home pension

[poppy4400]

Getting ready to retire in a few years was just wondering what most people are living on what are you taking home you really.. $$$

 

[DrRoy]

I think this should show you. Keep in mind, this is an above average group financially.

http://www.early-retirement.org/for...is-your-planned-monthly-spend-rate-86650.html

 

[Midpack]

Aside from Soc Sec one day, our pension is $0.

 

[Tom52]

Retired 4 years now, no pension in my future and no social security for at least another year.

 

[kitesurfer2]

$2500 a month over my expenses. 2 annuities and social security. $400k in mutual funds that i don't expect to need.

 

[Red Badger]

Spending about $5K per month. About $2K is pension; have to pull the difference from our squirrels nest until SS in 2019 or later.

 

[latexman]

I think this should show you. Keep in mind, this is an above average group financially.

http://www.early-retirement.org/for...is-your-planned-monthly-spend-rate-86650.html

That median looks like $6200/mo or $74k/yr to me.

Compare that to:

Household Median Income Mean Income

Aged 55-64: $62,802 $89,986

Aged 65-74: $47,432 $68,905

Aged 75+: $30,635 $45,989

Reference: https://www.newretirement.com/retirement/average-retirement-income-2017/

 

[ShokWaveRider]

$0 Pension, $0 SS........ Yet. Only investment Income.

 

[97guns]

My brother is retired on a $2400/mo pension and $1100 from rental income

 

[bingybear]

retired 3 years, SS likely 13 years away, no pension in sight. This is called "how to be thrifty

 

[IMATERP]

Pension is 2 years and 10 months away. At that point, I will have a decision to make:

A. $1,350 a month for the rest of my life, or

B. $2,650 a month for two years and then $1,100 (at age 62) a month for the rest of my life. It's sort of a blended social security approach giving me equal amounts beginning at age 60.

Conservatively, I budget $2,500 - $3,000 in expenses per month.

I

 

[SheitlQueen]

No pension, live on widow's SS benefits (will switch to my own at age 70) and rental income. I usually end up with a couple of hundred left over at the end of the month to put into an emergency fund, to handle stuff I don't routinely budget for.
Haven't had to touch any of my investments.

 

[kcowan]

Household annual pension income is US$45,200

I also have a $500k life policy to replace the company portion of the pension.

 

[rodi]

I have two tiny-weeny pensions that add up to about $450/month. No COLA. They are nice. I don't turn down the money. But obviously not enough to live on.

Rental income is another income stream. It's also not enough to live on - but definitely a nice piece of our income.

DH gets SS. Similar in scale to the rental income

I'll get SS sometime in the next 6-14 years. (depending on when I claim). But for now - zippo.

The balance of our spending is withdrawn from our investments.

 

[Dtail]

My pension at 65 yrs old currently calculated to a whopping 303 per month.

 

[VanWinkle]

Worked my last 15 years at Insurance company to get pension of 938.00 per month joint/survivor.

I am thankful for it everyday.

SS for me and wife at 65 or 66 along with the pension will cover normal cost of living for us. Portfolio will be gravy for splurges and bucket list items.

VW

 

[gayl]

Just did taxes so this is accurate for 2017:

Pension 33,935 gross, 2404 month net
SSA will be annual 12k (divorce then when mine)
Saving 1250 month for travel
No mortgage, prop 13, no debt

 

[ABQ2015]

Pension is $54K based on 33 years of service. The rest of my retirement income will come from SS and investments. All my income is taxable and I'm single so a good chunk will go to taxes - almost as much as when I worked.

 

[PartIrish]

One pension + 1 Soc. Sec. = just over $50K. Rental income = $13K. Soc. Security #1 starts in a few months, and in 2020 we'll add one more Soc. Sec. of about $17K

The rental income is net of expenses but pre-tax. Other figures are gross, not net. Not really doing any distributions yet from investments. I am still earning an income which is not included above; spouse is retired.

 

[bada bing]

I have an active pension at current employer that would pay $1250/month non-COLA today. Should be $1500/month when I retire in 2020, more at age 70 in 2027 if I wait that long. I'll get max SS when I take it, I have 33 years at the cap so far. I can delay both SS and the pension for 8 years until age 70, which is probably what I'll do. The pension actually has more attractive terms for delaying than SS and the cash value is part of my estate until I annuitize.

Pension + SS is enough for basic living, but won't cover my planned spending. Gotta have some savings for the third leg of the "3 legged stool".

 

[Huston55]

I think this should show you. Keep in mind, this is an above average group financially.

http://www.early-retirement.org/for...is-your-planned-monthly-spend-rate-86650.html

That median looks like $6200/mo or $74k/yr to me.

Compare that to:

Household Median Income Mean Income

Aged 55-64: $62,802 $89,986

Aged 65-74: $47,432 $68,905

Aged 75+: $30,635 $45,989

Reference: https://www.newretirement.com/retirement/average-retirement-income-2017/

Unless I misread the US Census Bureau data, this is an apples/oranges comparison. DrRoy’s data is after tax spend for “retired” folks (aka retirement income), and the US Census Bureau data (incorrectly?) cited by ‘NewRetirement’ as “retirement income” is actually all folks in these age groups, including those working.

 

[scrabbler1]

I have been living on investment income from my taxable account for the last 9 years. It is mostly bond fund monthly dividends but there is also some stock fund dividends and some erratic cap gain distributions. Without the cap gain distributions, the dividends cover my expenses with a comfortable cushion, which means I don't have to tap into principal.


I have several "reinforcements" awaiting me starting at about age ~60. One is unfettered access to my rollover IRA. Another is SS. A third is my frozen company pension of $1,000 a month starting at age 65 (no COLA).

 

[Souschef]

$1766 per month from our pensions, $4089 from SS.

 

[aja8888]

No pensions, $48 K year from SS. RMD's filling in the shortfalls.

 

[lwp2017]

Pension is $11.6K / month, pretax. Joint survivor, no COLA.

First payment in 45 days. I stayed with same company for 33 years.