North Carolina ranks 13th out of the 50 states, plus Washington D.C., in a new report on how senior citizens' incomes compare to their younger counterparts.
Conventional wisdom says retirees need 70% of the income they earned during their working years. North Carolina seniors, ages 65 and up, have an average annual income of close to 63% of their younger counterparts.
Nevada and Hawaii are the only states to reach the 70% threshold.
The fact that social security, instead of pensions and retirement savings, is the primary source of income for a majority of retired Americans may explain why so many seniors don't have a lot of money.
WFMY News 2