Reported 8 days ago
The average monthly Social Security benefit for retired workers today is $1,920.48, which equates to slightly over $23,000 a year. This amount can replace only about 40% of a worker's pre-retirement income, leaving many retirees to face a significant pay cut. To ensure a financially secure retirement, it's essential to supplement Social Security with savings, investments, or part-time work, as relying solely on Social Security might result in a modest lifestyle.
Source: YAHOO