Chances Are Your Financial Future Will Be Determined by This Social Security Table
In June, the average retired worker received a Social Security check totaling $1,837.29, which extrapolates out to a little over $22,000 per year. While this isn't a particularly large payout, the overwhelming majority of the program's more than 49 million retired workers relies on this steady stream of monthly income to cover their expenses.
Starting in 2002, national pollster Gallup began questioning retirees to gauge their reliance on Social Security income. All 22 years of surveys have shown that between 80% and 90% of retired respondents lean on their Social Security benefits as either a "major" or "minor" income source. In other words, it's necessary income to sustain their way of life.
With America's top retirement program playing such an important role in the financial future of a vast majority of workers, maximizing what you'll receive from Social Security on a monthly basis, or during your lifetime, is of the utmost importance. To that end, one Social Security table can quickly tell beneficiaries how well they might fare.
Source Fool.com
