<prompt> Human: Is 10K a year enough for an average senior american? I understand that each person varies, but Im asking for the average senior american. EDIT: Lets say the senior American starts retirement this January 2017.  <response>: It depends on the person, the area they live in, and how they mean to live their life. Is their home all paid for? How high are their property taxes? Do they have expensive hobbies? Do they live in a high cost of living area? Do they like to travel? What are their medical expenses? And so on. There is not a one amount fits all answer to this. But no, I dont think that is enough to eek out even the most miserly existence- thats only 833 a month. When you think of food, transportation, insurance, housing, taxes, utilities, medical expenses, and a bare minimum of entertaining oneself 247 833 a month isnt going to cut it. Two people each receiving that amount might cut it cohabitating in a low cost of living area if they have planned properly, have a paid for economical house with low taxes, and no medical issues to contend with, and are savvy shoppers with no need for the latest and best everything. But itd be squeaking by IMO. 