Retirement Facts
We can help you prepare for retirement.
3.4% is the average monthly income Americans save
(SOURCE: USAFacts.org, Americans aren’t saving as much as they used to, Bureau of Economic Analysis, September 2023)
1 in 5 Americans age 50+ have NO retirement savings
(SOURCE: https://usafacts.org/articles/why-arent-americans-saving-as-much-as-they-used-to/)
30% say social security is less than 1/3 of elderly income
(SOURCE: Social Security Administration, “Fact Sheet Social Security” accessed Jan. 22, 2025, Press.aarp.org/2024-4-24-New-AARP-Survey-1-in-5-Americans-Ages-50-Have-No-Retirement-Savings)
$330,000 is the average retirement healthcare cost for couples aged 65
(SOURCE: Fidelity® 2024 Retiree Health Care Cost Estimate. Fidelity.com, August 8, 2024. Fidelity Investments® Releases 2024 Retiree Health Care Cost Estimate as Americans Seek Clarity Around Medicare Selection)
48% of folks think their retirement money won’t last a lifetime
(SOURCE: 2024 Protected Retirement Income and Planning study, Alliance for Lifetime Income & CANNEX. https://www.protectedincome.org/wp-content/uploads/2022/08/2024-PRIP-Chapter-1-Release-May-17-2024.p... (Relates to Peak 65 Ages 61-65).
Lafayette Life does not provide tax or legal advice. Please contact your tax or legal advisor regarding your situation. The information provided is for educational purposes only.
The Lafayette Life Insurance Company, Cincinnati, OH, operates in D.C. and all states except NY.
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