This Is the Average Social Security Benefit for Age 65
Get ready -- in just 11 years, Social Security will be celebrating its 100th birthday! For now, we can celebrate that it has been around for 89 years, keeping millions of Americans out of poverty. Today, it supports more than 71 million Americans, with payments totaling nearly $1.5 trillion per year.
You might wonder what the average benefit is for someone of an average retirement age. Here's your answer: The overall average monthly Social Security retirement benefit was $1,919 as of July. That's about $23,000 annually -- for this year. (Remember that Social Security benefits are increased nearly annually, via cost-of-living adjustments (COLAs).
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Source Fool.com
