A comfortable retirement might be out of reach for most seniors. According to an article by 24/7 Wall St., a couple retiring in The Villages, the infamous north-central Florida retirement community, needs about $1.2 million to sustain that sought-after lifestyle.
Here, more than 150,000 seniors spend their days driving around in golf carts, playing golf and pickleball, and enjoying their golden years. But that lifestyle doesn’t come cheap.
The article notes that even with the house paid off, retirees will need to be millionaires. It notes that “Social Security covers about $50,000 a year for an average couple, leaving a $30,000 portfolio gap on an $80,000 budget at a 4 percent withdrawal rate.”
Council of Seniors is Here to Help Older Americans
Older Americans worked long and hard and deserve to live a comfortable retirement free from financial strain.
All of us here at the Council of Seniors want to improve retirees’ financial futures – and that starts with Congress enacting The SAVE Benefits Act. The passage of this bill can make up for Social Security cost-of-living adjustments (COLAs) that have let you down in recent years. If it passes, $581 will be returned to eligible seniors.
Sign our petition right now to show you’re on board with our effort.