Social Security: A Look at the Averages
Many of us like to know where we stand in relation to everyone else, and that’s likely true when it comes to how we compare to millions and millions of people who draw benefits from our country’s Social Security program. For example, if you’re one of the more than 50 million people receiving retirement benefits from the program, it may be of interest to compare your monthly payment to the average amount paid out. Likewise, if you’re the spouse of a retired worker drawing benefits on his or her work record, where do you stand in relation to the average? Knowing this type of information can be interesting, although there’s likely nothing you can do to change how you compare to the rest of the world, but for those looking ahead to drawing benefits from Social Security, it can be helpful for planning pirposes.
In a post today on en.as.com’s Latest News page, AS journalist Oliver Povey provides a recap of the major averages, and links to the Social Security Administration’s page statistical to provide additional detail for interest parties. He also discusses Social Security’s “future prospects,” including commentary from public officials in this regard. Read the full article here…