How Does Your Social Security Benefit Compare to the Average? Here's How to Find Out
Social Security benefits can go a long way in retirement, and for millions of older adults, they're a critical source of income. In fact, around 21% of U.S. adults age 50 and older say they don't have any other retirement income outside of Social Security, according to a 2023 survey from the Nationwide Retirement Institute.
It's wise, then, to ensure you're making the most of your benefits. While everyone's situation is different, it can sometimes be helpful to see how your monthly payments stack up to the average. Here's how to tell where you stand -- as well as a few ways to increase your benefits.
How much you receive from Social Security will depend on three main factors: how long you've worked, your earnings throughout your career, and the age you begin claiming.
Source Fool.com
