The Average Social Security Beneficiary Has Been Cheated Out of $6,478 in Annual Income
Whether you're already retired and receiving a Social Security benefit or preparing to enter the workforce for many decades to come, there's a good chance America's top retirement program will help you cover part of your expenses during your golden years.
For the past two decades, Gallup has been polling retired workers to gauge their reliance on Social Security. Every year, between 80% and 90% of retirees respond that Social Security accounts for a "major" or "minor" source of income. Meanwhile, 76% to 88% of nonretirees expect to lean on their Social Security payout in some capacity when they do hang up their work coats for good.
Unfortunately, data shows that the program's more than 66 million current beneficiaries are being cheated out of a significant portion of their potential income.
Source Fool.com
