Every month, more than 62 million people receive a Social Security benefit check. Nearly 45 million of these beneficiaries are seniors, with close to 43 million of them receiving a traditional retired worker benefit. Though this retired worker benefit isn't particularly large -- an average of $1,411 a month, according to Social Security Administration data from April 2018 -- it's enough to keep more than 15 million seniors above the federal poverty level, according to the Center on Budget and Policy Priorities. Yet for as much of a lifesaver as Social Security has been for senior citizens, it's also a program that's in some pretty big trouble over the long run.Image source: Getty Images.Continue reading
Comment on Who's Ready for a 21% Cut to Their Social Security Benefits?
newsfeedback@fool.com (Sean Williams), The Motley Fool
Mon, 06/18/2018 - 5:56am
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