Today’s Average Retirement Income Stats
Every year the average retirement income reduces for those in countries where a pension is actually offered. People are becoming less well off while the over 65-year old population worldwide is growing … and living longer.
In Sweden 20% of the 10 million population is over 65 now and this is expected to grow to 23% by 2040. On average Swedes live to ripe age 81. In Japan a quarter (25%) of the citizens are over 65 today and by 2050, that figure will rise to 33%. Over 12.5% are 75 and over and Japan has the most advanced over-retirement-age research in the world.
Average Annual Retirement Income – 2017
In Canada, recent research estimated a comfortable, annual average retirement income for a couple to be $100,000 – (US US$8333; UK £ 6410 per month). Sounds like a lot? Remember the additional costs of aging :-
- increased healthcare costs
- increased assisted living costs
- inflationary costs
Retirement Payouts in Different Countries
We had a look at average retirement income payments (per annum) in some countries to see if they measured up and to get an idea of what additional amounts we would need to earn. This is what we found. If you have more recent figures, send them in!
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USA: US $17,000 ( £13,227)
BDOS: US $20000 ( £15037)…includes National insurance and pension
UK: US$ 25,703 (£20,000)
CAN: US$40,000 (£31,125)
SWED: US$ 15000+++ (£11,671)
Two Options To Boost Average Retirement Income
Here are two ways to increase income. There are other methods, but these two methods are very popular…and work!
A :- Use the extra space in your home or property to create rentals which can provide a very adequate income.
It will all depend on your individual space but converting or re-designing a room in your empty nest into a rental can provide a big boost in income. Airbnb is a great option where there is a need for a rental spaces and, at the Airbnb rates (which areas more competitive than hotels), student areas, business areas, touristy areas work well for hosts. And it is fairly easy to set up an Airbnb rental and maintain it from home.
Here, we will show how easy it is to boost your retirement income by using your spare space.
Airbnb’s Easy Offers
Airbnb only takes the commitment to keeping your rental areas clean and inviting.
Boost your income with ease and security. When you share your space on Airbnb, you’re covered by our $1 Million Host Guarantee.
- Online calendars and a website listing for your place is provided – and Airbnb sends you booking alerts!
- You can even be paid for encouraging people to use Airbnb even if its not your own location!
- Airbnb support hosts with information, tutorials and ideas!
B:- Write or video post about your passions on the web and earn $$
If being friendly and welcoming is not your thing you can also make good money letting people know about your passions on the web either by writing (blogs or articles) or by creating your own videos very simply. As a retiree, you have a lifetime of knowledge someone wants to have!
Develop your own authority site that has your special touch on your favourite interests and hobbies and link your preferred products to make money. Many companies will pay you for your endorsements! This has been a growing method of boosting income and can be done anywhere, making it very flexible! Topics such as:
- Travel locations
- Self help topics
- the environment
… the list is endless!
How to Get Started
Once you learn the simple system of how to post online (see the program I used below ) money can be made. There are several training programs available online but don’t get me wrong…it takes time and practice. Anywhere from approximately 1 – 4 months of solid work will nurture you into becoming a fully fledged online marketer/authority and you can receive recurring income ( the amount varies on you!)! I even know people who left their jobs to do blogging full time! Here are some more facts about the training program I used:
1. Training is bite sized, written and also on video, and task based (you create your authority website while you learn)
2. You get FREE training for about 1/3rd of the course, allowing you to decide whether you want to move forward with the rest of training. Right now there is even huge discounts off membership!
3. FREE training includes multiple FREE excellent web tools semi-automated for your creations which are very valuable and save loads of money, time and frustration when building your website.
4. You have a community of friends who help you out online
5. You have millions of subject matter choices to use which can all provide income.
6. If you can’t think about anything to video or write about the company provide training in a subject for you to earn money!
7. Most importantly, it is LEGAL and not a weird scam.
What will You Do with Your Extra Income?
I think after working a lifetime, we need to be prepare for retirement by increasing money to buffer out pensions. In many cases create out pensions! Hopefully these two options will give you food for thought on how to boost your retirement income.
If any of you have founds ways to increase your retirement income, drop us a line. We do not use your information as you can see from out privacy notice. It would be great to hear what methods you have thought of! Were you able to add to your income and what did you do? Have you started a little Airbnb or YouTube channel?