Social Security Recipients Could Get $92 Richer Per Month in 2022 -- Maybe
Many seniors rely on Social Security to cover the bulk of their living expenses. But that's actually problematic.
For an average wage-earner, Social Security will replace roughly 40% of pre-retirement earnings. Most seniors, meanwhile, are advised to replace their income at a rate of 70% to 80%.
Having that extra income is crucial given the rise in senior healthcare costs through the years. And so those who depend heavily on Social Security often find themselves struggling financially.
Source Fool.com
