Five Things You Should Know About Social Security

Here are five things you should know about your social security benefits!

1. There are four types of social security benefits: Retirement, Survivor, Dependent, Disability. It’s important to know which best applies to you.

2. Almost half of all American workers have less than $2,000 saved for retirement. This is pitiful. The best time to start planning for retirement is when you’re in your 20s – but it’s almost never too late to begin.

3. Social Security became law on August 14, 1935, and has steadily increased in size and scope ever since.

4. For today’s retirees, Social Security accounts for approximately 40% of income.

5. The average payment to a single retiree is $1,229 per month.

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