According to the U.S. Bureau of Labor Statistics , the median income for full-time working Americans (ages 65 and up) is $1,159 a week — about $5,022 a month. Retirees , however, tend to earn significantly less. Those who rely strictly on Social Security receive a typical benefit amount of about $1,976, as per Social Security Administration data .
But many retirees also earn money from their investments and other sources. Those who own their home outright tend to have the option to sell their property and move to a more affordable place using, at least in part, the proceeds.
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