This Is the Average Social Security Benefit at Age 65

The role Social Security plays in someone's retirement finances varies widely. Some rely on it for all their income; some rely on it for the majority of their expenses; and for others, it's just a nice-to-have bonus because they have enough money coming in from other sources.The role Social Security plays also varies widely because possible benefit amounts vary widely, currently between $53.50 and $5,251.However, the average benefit amount can help put into perspective the more typical benefit. As of the start of this year, the average monthly benefit for someone age 65 was $1,607.27. The average benefit for men was higher at $1,772.00, and the average for women was a bit lower at $1,457.40.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool