These 3 Social Security Facts Prove You Can't Live on Your Benefits Alone

These 3 Social Security Facts Prove You Can't Live on Your Benefits Alone
Maurie Backman, The Motley Fool
·3 min read

Many seniors get the bulk of their income from Social Security, and you may be planning to do the same once it's your turn to retire. The average senior on Social Security today collects $1,543 a month, or $18,516 per year, in benefits. If you retire on just Social Security, you could easily end up spending half of your income on healthcare, leaving you with very little money to cover your remaining bills.