Retirement Retirement Planning

Here's the Average Monthly Retirement Income for 67-Year-Old Americans

What does retirement income near age 67 really cover each month?

By Kristin Hitchcock , Edited by Laura Hohenstein

Updated Oct. 23, 2026

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What is the average retirement income of Americans at age 67? The median is about $5,733 a month for households headed by someone ages 65 to 74, according to 2025 Census data. The average is much higher: $8,583. Neither figure represents a Social Security check, and both include income from people who are still working.

If your income falls below those numbers, that alone doesn't mean you're behind on your retirement goals. Supporting one person in a paid-off home looks very different from covering a mortgage and expenses for two. Here's where the money comes from, what households spend, and what you could still adjust at 67.

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Start with the median, not just the average

The median is the midpoint. Half of households in this age group received more, and half received less. Higher-income households pull the average upward, making it a less useful picture of the middle.

2025 household income, ages 65–74	Annual amount	Monthly equivalent
Median	$68,800	$5,733
Average	$103,000	$8,583

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What an average Social Security check covers

Social Security estimated the average retired worker's benefit at $2,071 monthly for January 2026. That's an individual benefit across retired workers of different ages, not total household income or an age-67 estimate.

If your check is close to that average, compare it with your essential bills first. How much is left after housing, groceries, utilities, and insurance? That gives you a clearer idea of what a second household benefit, pension, earnings, or savings would need to cover.

Middle-income households lean heavily on benefits

Research offers a better look at actual dependence. A Congressional Research Service analysis summarized by Boston College found Social Security supplied 46% of household income for people 65 and older in the middle-income third, using 2019 data.

The figures cover a broader age group and an earlier year, but they help explain why an average Social Security check might feel inadequate. These middle-income households received slightly more than half their income from other sources.

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Pensions can have a big impact

A pension adds a regular payment without requiring you to sell investments each month. However, fewer private-sector workers have access to one. Defined-benefit plan access fell from 20% in 2010 to 14% in 2026.

Those figures measure workers' access, not retirees receiving pensions. If you have one, check the actual monthly payment, survivor option, and whether benefits increase with inflation. A fixed check may cover less as prices rise.

How much could you withdraw from savings?

A 401(k) balance isn't monthly income until you arrange withdrawals. For a simple illustration, taking $12,000 over a year provides $1,000 per month before taxes.

Whether that amount is sustainable depends on your balance, investments, future expenses, and how long the money needs to last. If your planned withdrawal includes dividends earned inside the account, don't count those dividends again as separate income. The amount you take out also needs to leave enough invested for later years.

Part-time earnings could cover a shortfall

Part-time work or consulting could cover a specific shortfall without requiring a return to full-time employment. At 67, you've reached full retirement age, so Social Security's retirement earnings test no longer reduces benefits because of wages.

Interest, dividends, and net rental income may add more. Budget rental income after repairs, insurance, taxes, and vacancies. Also remember that freedom from the earnings test doesn't mean additional income is tax-free.

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Delaying Social Security still has value

If you haven't claimed, waiting until 70 earns delayed retirement credits that permanently increase your monthly benefit. Credits accrue at 8% of your full-retirement-age benefit per year after full retirement age, stopping at 70.

The tradeoff is going without payments while you wait. Consider your health, available savings, and household needs. Someone turning 67 in 2026 generally reached full retirement age at 66 years and 10 months.

Check housing costs before cutting smaller expenses

Housing is the largest spending category in this age group, so reducing that bill could make a bigger difference than several smaller cuts. Downsizing, sharing housing, or moving somewhere less expensive could reduce recurring costs.

Run the full calculation first. Selling expenses, moving costs, a new mortgage rate, or higher insurance might swallow the savings. A paid-off home still needs taxes, maintenance, and utilities, but moving isn't automatically cheaper.

Use the years before required withdrawals

For someone turning 67 in 2026, required minimum distributions from a traditional IRA generally begin at 73. That leaves several years to plan withdrawals and evaluate whether Roth conversions make sense.

Start with your personalized Social Security estimate, including different claiming dates. Then add your actual pension, realistic earnings, and planned withdrawals. Compare that total with your monthly bills to see whether you have a shortfall and how much you'd need to make up.

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Bottom line

The median household income offers a useful comparison, but your expenses matter more. Social Security, savings, and any other income need to cover the life you're actually living. If your retirement savings are stretched thin, working part-time, reconsidering housing costs, or delaying an unclaimed benefit could help close the gap.

Before deciding how much you need each month, total your irregular expenses, too. Divide annual bills and planned costs, such as insurance renewals and car repairs, by 12 and include that amount in your budget. Otherwise, a month that looks affordable on paper might leave you reaching for savings when those bills arrive.

FAQs

Does having below-average retirement income mean you're behind?

No. An average doesn't account for your specific expenses or resources. Someone with a paid-off home and little debt may need less income than a household with a mortgage and higher bills. Focus on whether your income covers your needs and whether planned savings withdrawals can last.

How do I figure out how much income my savings need to provide?

Subtract your reliable monthly income, such as Social Security and a pension, from your monthly expenses. If you expect to spend $4,000 and receive $2,800, your savings would need to cover $1,200 a month, or $14,400 a year, plus any taxes on withdrawals.

How should couples plan for retirement income after one spouse dies?

Building a second budget showing the income the surviving spouse would receive would be a good place to start. Confirm how Social Security and any pension would change, then compare that income with ongoing expenses. Housing, maintenance, and other household costs may remain substantial.

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