This Is the Average Social Security Benefit at Age 70

Certainly, nobody's getting rich off their Social Security payments. Nevertheless, given the sky-high cost of pretty much everything in this economy, the program's beneficiaries certainly aren't refusing to accept their payments. Every dollar helps these days.And this raises the question: Exactly how much money are, say, 70-year-olds getting from Social Security every month? Keep reading for the answer.Getting straight to the point, the Social Security Administration reports that as of the end of last year, the average 70-year-old receiving retirement benefits was getting $2,274.68 per month. Applying the 2.8% cost-of-living adjustment that took effect at the beginning of this year pushes this monthly figure to just under $2,340, versus the overall average (all ages) retirement benefit of $2,071 per month.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool