Planning for retirement can be challenging, with expenses often requiring sacrifices in lifestyle. By the time an American couple reaches their 80s, the average middle-class retired couple spends approximately $4,200 per month. Social Security remains a significant income source, providing about $3,300 to $3,500 monthly. Gen X and Gen Z face tougher retirements than the Silent Generation, needing higher savings for middle-class living. The earlier you plan and save, the better chance you’ll have for financial security in retirement.

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