Social Security on Average Pays 40% of Workers' Earnings in Benefits, but What Will You Get?
Nearly all Americans 65 and older get at least some money from Social Security, and more than one-third say it provides at least half their monthly income. Some seniors have no other funds to fall back on and rely upon Social Security to cover virtually all their expenses.
Many don't realize the program wasn't designed to be a beneficiary's sole means of support in retirement. It was only intended to cover about 40% of pre-retirement earnings for the average worker. But some people get more than this, and others get less. Fortunately, estimating how much you'll get isn't too complicated.
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Source Fool.com
