Senior citizens in 49 of the 50 states aren’t replacing enough of their pre-retirement income.

Many financial experts say retirees need at least 70% of the income they earned in their working years, but an study finds that only seniors in Washington, D.C., and Nevada are meeting that threshold.

“Many Americans are struggling to make ends meet in their golden years,” says Mike Sante, managing editor of “Especially in high-cost areas such as the northeast, retirees are not only competing against the higher incomes of their younger counterparts but also battling higher costs for housing, gas, food and other necessities.” examined the most recent edition of the U.S. Census Bureau’s American Community Survey. For each state and Washington, D.C., divided the median annual household income for those who are 65 and older by the median annual household income for those between 45 and 64 years old. Washington, D.C., (74%) and Nevada (71%) were the only places to exceed the coveted 70% threshold.

“The D.C. area’s retirees do particularly well for themselves,” he adds. “This is likely due to the fact that the D.C. area has a large number of retired federal employees, many of whom are able to reap the benefits of pension plans.”

People age 65 and older are able to replace at least 60% of their younger counterparts’ annual incomes in 28 states and Washington, D.C. Hawaii (69%), Arizona (68%) and Mississippi (68%) join D.C. and Nevada in the top five.

In the two lowest-ranking states, Massachusetts and North Dakota, people age 65 and older are unable to replace even half of their younger counterparts’ incomes.

Nationally, the median income for those who are 65 and older equals just 60% of the median income for 45- to 64-year-olds.

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Copyright © 2020 Transcontinental Media G.P. Originally published on

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