Retirement Retired Life

Here's the Average Monthly Retirement Income for 70-Year-Old Americans

See how your household income compares and what changes at 70.

By Kristin Hitchcock , Edited by Laura Hohenstein

Updated Nov. 6, 2026

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Households headed by someone aged 65 to 74 had a median income of about $5,733 a month in 2025, compared with an average of $8,583, according to the Census Bureau. These figures cover an age bracket, rather than people exactly 70, and include everyone's household income before taxes.

At 70, waiting to claim Social Security no longer earns you a larger benefit through delayed retirement credits. Required retirement withdrawals may also be only a few years away. If you're trying to free up your retirement budget, it helps to know where other households' income comes from and how your own income compares with your bills. Here's what the numbers mean.

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Half of households bring in less than $5,733 a month

The median is the middle: Half of households received more, and half received less. Higher incomes pull the average upward, which explains the sizable gap.

Household income, ages 65-74	Annual income	Monthly equivalent
Median	$68,800	$5,733
Average	$103,000	$8,583

Monthly figures are annual amounts divided by 12. Neither is a suggested spending target. A single person with a paid-off home has different needs than a couple paying rent.

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The income figures include people who still work

You don't have to be retired to appear in these figures. Some households still receive paychecks, and others combine Social Security with pensions or investment income.

They also combine income across household members. Comparing one person's Social Security deposit with $5,733 could make their situation look worse than it is. Start by adding up income for your whole household, then separate ongoing payments from money you're taking out of savings.

Social Security provides the foundation

Social Security provides roughly 30% of total income for people 65 and older. That doesn't mean it covers 30% of the typical household's budget.

Your share depends on your other income. For example, a household receiving $3,000 in Social Security and $1,000 from other sources gets 75% of its income from benefits. Without wages or a pension, Social Security may do most of the work.

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A pension could reduce what you need from savings

A monthly pension could cover bills that another household pays from savings. Traditional pensions have become less common in private employment: Just 14% of private-industry workers had access to a defined-benefit plan in March 2026. That measures current workers, not pension receipt among retirees.

If you receive one, check whether payments increase with inflation and what continues for a surviving spouse. A fixed payment may cover less as prices rise.

Retirement withdrawals fill the remaining gap

Your IRA or 401(k) balance isn't monthly income until you take money out. For example, withdrawing $12,000 over a year provides $1,000 a month before any applicable taxes. That's an illustration, not a recommended withdrawal rate.

The useful question is how much your budget requires from savings after regular income arrives. Include occasional expenses, too. A new water heater still needs paying for, even if it wasn't in last month's budget.

Part-time work no longer triggers the earnings test

At 70, earnings from a job don't cause Social Security to withhold benefits under its retirement earnings test. That restriction ends at full retirement age, so you've already passed it.

Part-time earnings could reduce how much you withdraw from savings. Build your budget around what's left after taxes and work expenses, though. Run the numbers without that paycheck, too. You may eventually need — or want — to stop working.

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Count what you keep from investments and rent

Interest, dividends, and rental income may provide another part of your monthly cash flow. Keep those payments separate from selling investments or withdrawing the same money from an account so you don't count it twice.

For rental property, use what remains after expenses and a repair allowance. A tenant's $1,500 payment isn't $1,500 available for groceries when insurance, property taxes, and maintenance come out of it.

Waiting past 70 doesn't earn more Social Security credits

Social Security's delayed retirement credits stop at 70. If you haven't claimed your retirement benefit, waiting longer doesn't earn another increase for delaying. You can apply while continuing to work.

That doesn't mean your payment can never rise again. Cost-of-living adjustments still apply, and additional earnings could affect your benefit calculation. But the reward specifically for putting off your claim has reached its limit.

Required withdrawals are getting closer

Someone turning 70 in 2026 generally reaches their required minimum distribution age at 73. For people born in 1960 or later, the starting age is 75. Account-specific exceptions apply, including no lifetime required minimum distributions (RMDs) for the original Roth IRA owner.

Check your timeline before withdrawals become mandatory. Delaying the first RMD until the following April could put two required distributions in one tax year, potentially increasing that year's taxable income.

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Three major expenses average about $3,455 a month

BLS spending data show households ages 65 to 74 spent an average of about $5,446 monthly in 2024, including:

Housing: $1,861.
Healthcare: $643.
Transportation: $951.

Those three categories alone total roughly $3,455. Don't subtract these expenses from $5,733 and assume the difference is spending money. The figures come from different surveys and years, and the income amount is before taxes.

Bottom line

The median household income of about $5,733 a month gives you context, but your bills determine how much you need. Start with your Social Security benefit, add your other income, and compare what's available after taxes with what you actually spend.

One of the smart moves for seniors is checking your own records through my Social Security. If you haven't claimed, review your personalized benefit estimate and earnings history. If you already receive benefits, check your current payment and deductions. Use the amount available to spend, rather than the national average, to build your budget.

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FAQs

Should I be concerned if my retirement income is below the median?

Being below the median doesn't automatically mean you're behind. These figures combine income from everyone in a household and include people who still work. Whether your income reliably covers your expenses is more useful than how closely it matches a national benchmark.

Does home equity count as retirement income?

Home equity is part of your wealth, but it doesn't provide monthly spending money unless you take steps to access it. Selling, downsizing, or borrowing against your home can make some equity available, but each option comes with costs and tradeoffs.

What can I do if my retirement income doesn't cover my bills?

Identify whether the shortfall comes from recurring expenses or occasional large bills. Review housing, transportation, insurance, and debt payments for possible savings, and check eligibility for assistance with food, utilities, and healthcare. Before increasing retirement withdrawals, consider how long your savings need to last.