What is a good monthly retirement income?

What is a good monthly retirement income?

In 2019, the average monthly retirement income from Social Security was $1,470, according to the Center on Budget and Policy Priorities. That's just $17,640 per year in Social Security benefits. Keep in mind, though, that your Social Security benefits could be smaller.

Can I retire on 500k plus Social Security?

Social Security benefits can help supplement retirement savings but they will only go so far. For 2019, the maximum Social Security benefit is $2,861 but the average monthly benefit is $1,461. Crunching the numbers, the idea of retiring on $500,000 may seem out of reach. But don't count it out completely.