Here's the Social Security Benefit Check Retirees Can Expect at Different Income Levels
Social Security benefits are meant to replace about 40% of pre-retirement earnings for the average worker, but the precise amount varies based on average lifetime income and claiming age. The program doles out payments in a progressive fashion, meaning benefits replace more pre-retirement earnings for lower-income workers relative to higher-income workers.
Read on to learn how Social Security payouts are calculated, and how replacement rates vary across five hypothetical workers with different incomes.
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Source Fool.com
