This Is the Average Social Security Benefit at Age 65
Someone eligible for the average could expect to receive over $19,000 this year.
Overview
The role Social Security plays in someone's retirement finances varies widely. Some rely on it for all their income; some rely on it for the majority of their expenses; and for others, it's just a nice-to-have bonus because they have enough money coming in from other sources.
The role Social Security plays also varies widely because possible benefit amounts vary widely, currently between $53.50 and $5,251.
Details
However, the average benefit amount can help put into perspective the more typical benefit. As of the start of this year, the average monthly benefit for someone age 65 was $1,607.27. The average benefit for men was higher at $1,772.00, and the average for women was a bit lower at $1,457.40.
Source
Originally published at www.fool.com.
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