How Will Your Social Security Benefits Stack Up to the $1,557 Average?
Social Security benefits are a substantial source of income for millions of retirees, so it's wise to make the most of them. Especially if your retirement savings are falling short, your monthly checks can go a long way toward helping you enjoy your senior years more comfortably.
As of July 2021, the average retirement benefit amount is around $1,557 per month, according to the Social Security Administration. The maximum amount you can collect, however, is $3,895 per month.
How much you receive in benefits will depend on several factors, and there are ways to ensure you collect a higher-than-average monthly payment. How will your benefits stack up to the average? And what can you do to get closer to the maximum payment? Here are the factors to consider.
Source Fool.com
