A Foolish Take: How Much Does Social Security Pay?
There are few government programs that have the reach that Social Security has. With tens of millions of people receiving benefits, Social Security plays a vital role in fighting poverty among older Americans while providing key financial support to families dealing with a family member's death or disability.
Yet as important as Social Security benefits are, they're still relatively modest. The typical monthly Social Security payment doesn't come close to replacing wage income for the vast majority of participants. Although average Social Security monthly benefits have risen modestly in recent years, they still amount to less than $1,400 per month.
Data source: Social Security Administration. Benefit as of December of 2015 to 2018, and October 2019.
Source Fool.com
