White Paper – Understanding Social Security Benefits
- Money you can’t outlive – Social Security is one of the few sources of income you can't outlive. Once you start taking benefits, they continue to your death. The longer you live, the more you will extract from the system. If your benefit starts at $2,000 per month, and you live 10 more years, you will receive over $300,000 in lifetime benefits. If you live 30 more years, you'll receive over $1 million over your lifetime, assuming annual cost-of-living adjustments of 2.8%. That's good news because retirees are living longer and longer. Today, there is a 50% chance that the average 65-year-old will live into their late 80s. For the average couple aged 65, there is a 50% chance that at least one spouse will live to age 92.
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