Here's How Much Social Security Benefit Income Retirees Can Expect Based on Earnings
Social Security is often the largest source of income in retirement, and nearly 90% of retirees depend on benefits to some degree. But knowledge gaps regarding the program are prevalent among adults, which calls into question their ability to plan for retirement.
For instance, a recent survey from Nationwide Retirement Institute found that more than 40% of adults are unsure how much income they will receive from Social Security, and more than 90% do not know how to maximize their payouts.
Read on to learn how Social Security benefits are calculated, and to see how much benefit income retirees can expect at three hypothetical earnings levels.
Source Fool.com
