How to Beat the Average $1,565 Monthly Social Security Benefit
Many people are shocked to learn that Social Security is not designed to replace their pre-retirement income in full. Rather, those benefits will only replace about 40% of wages for typical earners.
In fact, the average Social Security recipient today collects $1,565 a month. Coupled with generous withdrawals from an IRA or 401(k) plan, that could make for a comfortable lifestyle. But many seniors get the bulk of their income from Social Security, and if you plan to do the same, you'll want to do what you can to score a higher benefit. Here's how to pull that off.
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Source Fool.com
