Here's the Average Social Security Benefit at Age 62
For many Americans, Social Security income is a necessity. More than two decades of annual surveys from Gallup have shown that between 80% and 90% of retirees rely on their monthly check to cover at least some portion of their expenses.
Furthermore, the Center on Budget and Policy Priorities estimates that poverty rates for adults aged 65 and above have been reduced by nearly 75% (compared to if the program didn't exist) thanks to the guaranteed monthly benefit that Social Security provides eligible workers.
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Source Fool.com
