Retirees with the median balance and, letās say, $1,500 a month in social security who live another 20 years would have to live on about $21,000 a year.
Itās absolutely shameful to be this wealthy of a country and leave anyone, especially the elderly, to destitution.
For those between 55 and 64, the average and median balances are $207,874 and $71,168, per Vanguard.