This Is How Much Most People Are Actually Earning From Social Security

If you're reading this, then odds are good you already know last year's average monthly Social Security payment was worth $1,559. What you may not realize, however, is that most retired beneficiaries aren't actually collecting that much. A few people are getting a little more, while a lot are getting much less. As such, if your retirement budget is loosely based on that $1,559 average, you might want to find out exactly how much you'll be banking from the government-run program when the time comes.

Mathematical averages are a great way of painting a picture with some broad brush strokes. The thing is, an average number can and often does obscure important details. In this case, that important detail is the fact that you're actually not likely to be collecting a Social Security check within $100 of the 2020 average payment of $1,559.

The graphic below puts things in perspective.

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Source Fool.com