This Social Security Table Shows How the Average Retiree Can Add Up to $11,500 to Their Annual Benefit
As of October 2022, close to 65.9 million people were receiving a Social Security benefit. A majority of these recipients -- 48.39 million, to be precise -- are retired workers, whom the program was designed for in the 1930s.
For many of these retired workers, Social Security income isn't just another check. It's a vital piece of their monthly income that's necessary to make ends meet. When national pollster Gallup surveyed retirees earlier this year, it found that 55% consider their monthly payout to be a "major" source of income, while a total of 89% of respondents relied on it to some degree to cover their expenses.
Given how important Social Security is to current retirees, and the expected role it'll play during the golden years for future generations, getting as much out of Social Security as possible is imperative.
Source Fool.com
