security 
The Motley Fool
MAY 29, 2024
The average retired worker in the United States receives $1,915 per month from Social Security, but there's a wide variety of age groups included in this data. It includes 62-year-olds who decided to claim Social Security early. But they can be reduced by as much as 30% if you start collecting Social Security as early as possible.
The Motley Fool
MAY 25, 2024
I won't even be eligible for Social Security for another three decades, but I already know I want to claim at age 70. But if I had a terminal illness, I would probably change my claiming strategy and apply for Social Security as soon as I could. These are the monthly checks Social Security gives your family after you die.
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The Motley Fool
MAY 30, 2024
Maximizing your Social Security benefits is a key piece of any good retirement plan. Around half of households with someone age 65 or older receive 50% or more of their total income from Social Security, according to data analyzed by the Social Security Administration. Image source: Getty Images.
The Motley Fool
MAY 28, 2024
October is always a big month for seniors on Social Security. It's the month when the Social Security Administration announces what cost-of-living adjustment, or COLA, recipients will be privy to in the coming year. In 2023, seniors on Social Security received a whopping 8.7% The reason? COLA -- the largest to arrive in decades.
The Motley Fool
MAY 25, 2024
In April, nearly 51 million retired-worker beneficiaries brought home an average Social Security check of $1,915.26 , which works out to almost $23,000 over a full year. While this might not sound like a lot of money, Social Security has played a key role in shoring up the financial foundations of retirees and helping them pay their bills.
The Motley Fool
MAY 26, 2024
If you read the latest Social Security Trustees Report, you may be inclined to curl up in a ball, bemoaning the fact that your retirement may have just gotten a lot more complicated. In the coming years, Social Security is expected to see its primary revenue source -- payroll taxes -- take a major hit. Image source: Getty Images.
The Motley Fool
MAY 28, 2024
If you don't anticipate having a ton of retirement savings, or simply want to know if you really need to save aggressively for your retirement, the question of "Can I live on Social Security alone?" Social Security is designed to replace about 40% of the average worker's pre-retirement income if claimed at full retirement age.
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