Here’s Why Your Social Security Check Is Getting Smaller

Photo by Karin Hildebrand Lau from Shutterstock

Did you know that, according to the Social Security Administration, also known as SSA, an estimated 45 million Americans get Social Security retirement benefits every single month? Also, the average benefit each month is $1,503 and for some Americans, this monthly benefits represents their primary source of retirement income.

If you’re banking on Social Security in order to supplement what you’ve saved in  a retirement savings plan such as 401(k), IRA (an individual retirement account), or another qualified retirement plan, you may have a surprise once you receive your first payment.

So, if you just started getting Social Security benefits, here are some strong reasons why you may be receiving a lot less than you actually expected.

1 23 ... 5NEXT

Leave a Comment

Your email address will not be published. Required fields are marked *

How Long Do I Need to Keep My Tax Records?

Uncle Sam has some clear rules when it comes to keeping your tax records safe for certain periods of time. In general, the time period for each record is actually based on different situations. That’s why it’s always a good

From Our Network: