How Much Will Social Security Cover for the Average American?
Over a quarter of American adults believe they can live on Social Security alone in retirement. And they can -- if they wish to eat poorly, live in substandard housing, and barely survive in general.
The average American senior citizen collects just $17,748 a year in Social Security benefits. Even if you assume that two people are living in a household together, their combined $35,496 from the Social Security Administration (on average) leaves them woefully behind what the average American spends in a year.
Social Security won't cover the average American's expenses in retirement. Image source: Getty Images.
Source Fool.com