This Is the Average Social Security Benefit for Age 66

Millions of Americans would be living below the poverty line without Social Security benefits. Even with those benefits, many are not on Easy Street. The average monthly retirement benefit of $2,005 (as of June) amounts to only about $24,000 annually. That's why it's critical for most of us to be saving and investing and following a sound retirement plan.You can start collecting benefits as early as age 62, and you can make your benefits bigger by delaying collecting them -- up to age 70. (Several studies have found that it's best for most of us to delay until 70 if possible.)Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool