Here’s How Much Money You’ll Get From Social Security

19-Yan, 2021
85 090 Ko‘rishlar soni

Planning to save for retirement might not be a priority. Luckily, you’ll have some help from Social Security. Different salaries can drastically raise or lower your Social Security benefits. Here’s how much you can expect, based on six different salaries.
The average Social Security check in 2020 is $1,503.
Figuring out how much you can expect every month when you retire depends on a few criteria.
The size of your payment will be based on income from your working years, the year you were born and the age when you decide to start receiving benefits.
Luckily, CNBC did the math for a wide range of salaries, and we can estimate your future benefits if you make between $30,000 and $100,000 per year.
Remember: Social Security was not envisioned as your sole source of money for retirement, and the totals are always changing.
Watch this video for a breakdown of how much you will get and how your monthly benefit will be calculated based on multiple different salaries.
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Here's How Much You'll Get From Social Security

Fikrlar
  • How are you planning for retirement? Let us know in the comments below.

    CNBC Make ItCNBC Make ItOy oldin
    • nah g i'm twelve

      magic on firemagic on fireOy oldin
    • Option Calls on $GME and YOLOing into some random start up

      RandyrozzayRandyrozzayOy oldin
    • Thank you. These Acorn videos are getting better. The case studies help a lot.

      Randy MRandy MOy oldin
  • We need to get rid of SS, just give everyone their money back and end the program.

    CallmeOshoCallmeOsho27 kun oldin
  • I had to retired early cause of sickness. They did me wrong I'm not getting what they said I would get. The government don't care if you live are die. That how this work

    Cynthia StembridgeCynthia StembridgeOy oldin
  • 356 dollars month

    Veranaya ValbrunVeranaya ValbrunOy oldin
  • I am 67 years i get175 a mont whick 22500 year

    Ermino BenitezErmino BenitezOy oldin
  • How much i get

    Ermino BenitezErmino BenitezOy oldin
  • If i get 2500 a year

    Ermino BenitezErmino BenitezOy oldin
  • If i get $175 month

    Ermino BenitezErmino BenitezOy oldin
  • IDK... They take 12% of your paycheck (you pay half, company pays half) and they are still running out of money... Better to let me keep that 6-12% and invest over my working life time...

    William RodriguezWilliam RodriguezOy oldin
  • I know it's likely someone won't respond, but I'm still curious how the age you retire affects your benefits, because the later you wait to receive benefits, the more you get. Does it affect your bends, or how does it work?

    Andrew OrtizAndrew OrtizOy oldin
    • It doesn't affect the bends. Instead, you just get a surplus amount in terms of percentage based on how long you wait. For instance, you wait an extra year and you get an extra 8% of whatever you otherwise would've gotten. www.ssa.gov/OACT/quickcalc/early_late.html#:~:text=In%20the%20case%20of%20early,of%20one%20percent%20per%20month.

      diffcontroversydiffcontroversyOy oldin
  • I need my government cheese please

    R TR TOy oldin
  • If you don't own property by retirement, paid in full, forget about it. Living won't even be worth it.

    Paul HoPaul HoOy oldin
  • Nice video.

    Unai EtxeberriaUnai EtxeberriaOy oldin
  • How about they give me back all my paycheck deductions? I better have a social security waiting for me when I retire.

    Young CheongYoung CheongOy oldin
  • I have no hopes to get this. 😪

    iseeflowersiseeflowersOy oldin
  • April Fools! Nobody is getting anything in 20 years!

    Double Odd JoshDouble Odd JoshOy oldin
  • Kets be real my generation will never see this money.

    RILLARILLAOy oldin
  • Nice work ✨🎇🎆

    Ebay AddictsEbay AddictsOy oldin
  • Is it gross income or net income?

    MARSMARSOy oldin
    • Gross.

      diffcontroversydiffcontroversyOy oldin
  • Just everyone the same amount

    IncomekingIncomekingOy oldin
  • I've always wanted to invest in forex/stock trading, after a few trials I realized that trading without a good mentor and guidance is a waste of time and money.

    Donald MichealDonald MichealOy oldin
    • (Andycali924 (ät) yahoo . čom)

      Andrew LuckyAndrew LuckyOy oldin
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      ANTHONY AUTHURANTHONY AUTHUROy oldin
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      Micheal Donald RayMicheal Donald RayOy oldin
  • i'm a millenial so none

    Andrew ChowAndrew ChowOy oldin
  • Stocks are good but i swapped and invested in forex and crypto I've been earning much from it

    Joseph MichealJoseph MichealOy oldin
    • + 1 3 2 3 3 2 0 7 8 1 6

      Tracy luckyTracy luckyOy oldin
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      Feng ChungFeng ChungOy oldin
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      Abraham JohnsonAbraham JohnsonOy oldin
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      Methodius YurievMethodius YurievOy oldin
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      Tracy luckyTracy luckyOy oldin
  • Social security is a scam nowadays. Born after 1980 and my pension will be a joke. I'm near 40s and I own nothing. A good chunk of my salary is going in taxes and social security. That money would do a lot for me right now, I could make a morgage for a house, save for my kids. Not some coins in 25 years.

    Ricardo MaggioreRicardo MaggioreOy oldin
  • It's a new year with bright and beautiful ideals, I guess everyone got a huge list for this 2021 because last year was bad for me because I couldn't go into any Investment because I wasn't wise enough to do so, can anyone advise me on any profitable investment I can go into this year?

    Karlee HellerKarlee HellerOy oldin
    • @Karlee Heller + 1 8 5 6 2 5 4 2 1 6 0

      Dermacus WildermanDermacus WildermanOy oldin
    • People are scared of investing in Bitcoins because of the high rate of unprofessionals in the business, I'm retired and I just started investing with Elaine Myers three weeks ago and I have earned $ 24,000 with just $ 9,000

      Kyle AndersonKyle AndersonOy oldin
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      Dermacus WildermanDermacus WildermanOy oldin
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      Kariane HettingerKariane HettingerOy oldin
    • @Kariane Hettinger Please tell me more about her and how do I speak with her?

      Karlee HellerKarlee HellerOy oldin
  • What a horrible retirement system! Imagine being able to take all the money you have so far invested into SS. Then turn around and invest that pile of cash into whatever retirement vehicle of your choosing.

    Razor SmithRazor SmithOy oldin
  • Social Security is a Ponzi scheme. get rid of it

    mdstmouse7mdstmouse7Oy oldin
  • I wish I could opt out of Social Security and instead invest that money in index funds.

    0neofthem0neofthemOy oldin
  • Why is nobody talking about Cruptocurrency at this moment? It's on a bull run and a lot of people are defintely gonna miss out on that just like the last time

    Anthony JamesAnthony JamesOy oldin
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      Houston GigsHouston GigsOy oldin
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      Bush DestBush DestOy oldin
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      Bush DestBush DestOy oldin
    • @Mary Smith *+1 9 3 1 2 3 6 3 9 3 6*

      Helena BrownHelena BrownOy oldin
    • How do I start trading with him?

      Mary SmithMary SmithOy oldin
  • What do you think about the "windfall" program? Do you think it will ever be repealed? Former civil service employees really get the short end of the stick on this policy!

    J BradJ BradOy oldin
  • i feel like iv'e already seen this video

    KariukiKariukiOy oldin
  • VRAU.bani.mej 999.Milliarde.Euro.CHES DATA 21.jani.2021.fa.pacet.trimite.Romania.FedEx,NAME. VARGA SANDOR ADRES GLORIA NR 92.LOC.GIROC.JUD.TIMISOARA.ROMANIA VRAU FAPTE NU MINCUNA

    Sandor Varga.Sandor Varga.Oy oldin
  • I’m retiring at the end of this week at 62. Taking my SS now. Too many friends and family members didn’t live long enough to retire and get SS. I have a pension and a 401k besides.

    -Mary Jo--Mary Jo-Oy oldin
    • Make sure you have plenty

      IncomekingIncomekingOy oldin
    • Congratulations🎉🍷!! Please enjoy it, relax, garden, wake up at 12pm. Eventhough it's a pandemic hopefully you can travel and enjoy life. I know so many who never got to enjoy retirement. You earned it and deserve it.

      La' VyLa' VyOy oldin
  • As a millennial, I don't even factor in Social Security into my retirement. I'll be lucky if they give me even $200 per month. Americas changing demographics no longer allow the current social security system to be sustainable into the long term

    ChaoesChaoesOy oldin
    • well the solution would be to just have more kids so they end up paying for it down the line you know but considering how expensive the current system makes it to raise a family we’re just digging a hole deeper and deeper

      Blanca VelasquezBlanca VelasquezOy oldin
    • you can thank Reagan. has zero to do with demographics

      RandyrozzayRandyrozzayOy oldin
    • Same here. 31 and just hit the 100k mark in salary. Trying to max out my TSP and Roth. SS will be an added luxury at this point.

      VeeVeeOy oldin
    • same here, im 26 pretty sure the govt isnt gonna let social security go bankrupt but my plan is to build up my roth ira, simple ira, and my regular brokerage account to live off of in retirement what i get from SS its jus icing on the cake to do what ever i want

      Leviathan88Leviathan88Oy oldin
  • Is social security income taxed

    Starr AzzureStarr AzzureOy oldin
    • Yes, it can be.

      diffcontroversydiffcontroversyOy oldin
  • At this point, you’ll be getting $0 from Social Security.

    Web UserWeb UserOy oldin
    • what makes you think that? its 100% guaranteed by the government. only way youd get nothing is if you vote to have it removed. which is what the republicans are trying to do.

      RandyrozzayRandyrozzayOy oldin
  • Millennials and gen z: *Works hard for 45 years* Government: *The best we can do is $0.*

    Web UserWeb UserOy oldin
    • Millennium get all the money from boomer wills

      IncomekingIncomekingOy oldin
    • I bet the government will just increase the contribution from 6.2% to 12.4%

      1966bluemax1966bluemaxOy oldin
    • Best we can do is gazillion trillion dollars

      StonkSlaydStonkSlaydOy oldin
    • How about $0 AND significantly higher taxes? Eh? Eh?

      Brendan Fitness and MoneyBrendan Fitness and MoneyOy oldin
    • @mdstmouse7 also you have to support all those kids until they are old enough to work and support themselves. May as well save that money and invest it for your retirement.

      Gen WilsonGen WilsonOy oldin
  • I have 0 faith in the government’s ability to provide for me so I’m making my plan as if the amount they’ll pay is proportional to my expectations. $0.

    Casey Burns InvestingCasey Burns InvestingOy oldin
    • Same. I look at as anything I get from them is extra. Just icing on the cake of all the money I put away on my own.

      Gen WilsonGen WilsonOy oldin
  • @0:48 ayy l(amie)ooo

    The Last ASMR ChannelThe Last ASMR ChannelOy oldin
  • Bottom line, don't rely on Social Security for your retirement

    APPG Investing & Personal FinanceAPPG Investing & Personal FinanceOy oldin
  • Social security is a fantastic gesture by the government, but always best to make you're investments in income bearing assets- and rely on these as your primary source of income in later life

    Warren Gosling - Wealth BuildingWarren Gosling - Wealth BuildingOy oldin
  • For immigrants who plan to leave the country before retirement, can they get all the benefits as a lump sum before leaving

    Emily GEmily GOy oldin
    • i think you can but i’m not sure

      Blanca VelasquezBlanca VelasquezOy oldin
    • IIRC illegals get no SS

      mdstmouse7mdstmouse7Oy oldin
    • No

      Craftingallart PeacefulCraftingallart PeacefulOy oldin
    • I don’t think so

      Angel SAngel SOy oldin
  • Born after 1980? Use the Willy Wonka method to calculate your benefit: “You get nothing! You lose! Good day, Sir!”

    Drew ConwayDrew ConwayOy oldin
    • 😆

      Gen WilsonGen WilsonOy oldin
  • 420? It just happens to be 35 years. Or was the person that came up with that, thinking about something else?

    Saul GoodmanSaul GoodmanOy oldin
  • Soooo if we didn’t save for retirement and SSA still exists, we’ll either make between $16k to $33k a year at 65. 😳

    kim pkim pOy oldin
    • Did you watch the video?

      Eric ShangEric ShangOy oldin
  • For us millennials, probably nothing *sarcasm*. But forreal tho

    Days with DayVidsDays with DayVidsOy oldin
  • They should do a video on how Social Security is projected to be insolvent by 2034.

    Jalen EarlyJalen EarlyOy oldin
    • It's pay as you go people will still get 80% of what they were supposed to once the fund runs out. There will always be younger people working and paying in.

      FirstFirst28 kun oldin
    • only if the government doesn't pay back the money they got loaned from SS. So really everyone's just fussing over nothing because the loans they took out are 100% back by the government. SS isnt "running out" the government just has to pay itself back. Republicans just want to shut it down so they dont have to pay it back

      RandyrozzayRandyrozzayOy oldin
  • I like how this video says “give you money” at one point, about half way through. The money from social security was always mine to begin with.

    Ronald BrownRonald BrownOy oldin
    • @Luís Andrade wow 😳 thanks for the infro

      Linda BrownLinda BrownOy oldin
    • @Luís Andrade So then you admit it’s a Ponzi Scheme. Thanks for proving my point for me. How about I just keep my money and you keep yours?

      Ronald BrownRonald BrownOy oldin
    • @Luís Andrade No free lunch. My money is taken away from me when young and when I retire I only get a portion back. Really seems fair.

      Ronald BrownRonald BrownOy oldin
    • @Luís Andrade I think Ronald’s frustration is he would be better off keeping the money he pays towards social security. Don’t hold your breath for the Gov. to take care of you.

      Jack Of All TradesJack Of All TradesOy oldin
  • Do they keep making the same video over and over again?

    OneNewHopeOneNewHopeOy oldin
  • Retire in another country.

    FinancierproFinancierproOy oldin
  • TLDR: between $0 and “not enough”

    Brendan Fitness and MoneyBrendan Fitness and MoneyOy oldin
  • Don’t rely on social security! Get your finances in order so you don’t have to rely solely on it!

    This is YamsThis is YamsOy oldin
    • Are you building electrical circuits using relays? Or did you mean rely?

      the dogethe dogeOy oldin
    • @Joel V good looking out! Thanks! 😊

      This is YamsThis is YamsOy oldin
    • Rely*

      Joel VJoel VOy oldin
  • That’s why in my late 30’s, I’m investing like crazy and putting as much as possible towards my retirement(Roth IRA, 401K and etc) cause In the future social security alone won’t help, let’s hope it still exist when I retire lol but if it doesn’t it is what it is I guess.

    gold9jagold9jaOy oldin
    • @Leviathan88 Cool, Ill check that out better late then never.

      gold9jagold9jaOy oldin
    • @gold9ja yeah i already downloaded the Binance.US app and made my account but it’s not yet available to residents of NY tho :( it’s a really good app to buy and sell crypto

      Leviathan88Leviathan88Oy oldin
    • @Leviathan88 Yea I'm trying to get into cryptocurrency as well but I want to have a better understanding of it.

      gold9jagold9jaOy oldin
    • same here, im 26 and i already have my roth ira, i just enrolled in my company simple ira, and i have a regular brokerage account generating $400 a year in passive income, plus ive been making a bit of money trading options plus i wanna get started buying crypto soon

      Leviathan88Leviathan88Oy oldin
    • I feel the same way

      GameboyreaperGameboyreaperOy oldin
  • Fffffff what happens when you’re a stay at home mom lol

    deviant m00ndeviant m00nOy oldin
    • You get a percentage of your husbands ss I think I know if he is deceased you get survivors disability benefits I think it is something like that you can check on the ss.gov website 😕

      Craftingallart PeacefulCraftingallart PeacefulOy oldin
  • This was a great explanation

    M DavisM DavisOy oldin
  • That’s it? 😒😒. Guess I’ll go harder on my 401k and start learning how to invest.

    Starry NightsStarry NightsOy oldin
  • Multiple revenue sources are the present and future way of being well off in old age. One task isn't enough.

    The LentThe LentOy oldin
  • For the younger generation, dont rely entirely on social security. You don't know if it will be around in the next decade or so.

    Millionaire Mindset ClubMillionaire Mindset ClubOy oldin
    • People have been saying this for decades. Stop. SS is a program like any other govt program: if we pay for it, it'll be there, and if we don't, it won't.

      diffcontroversydiffcontroversyOy oldin
    • tbh that is likely to happen when the millennials are in power and most millennials are the boomers kids so if they get rid of social security most of their parents would end up moving with them... yes i’m not worried over social security but obviously tax hikes are likely to happen in the future

      Blanca VelasquezBlanca VelasquezOy oldin
    • @R Cole but it’s better to be safe than sorry

      Sapta BSapta BOy oldin
    • It want be ...

      Dewane HDewane HOy oldin
    • There would be riots the likes of which this nation has never seen. It will be here.

      R ColeR ColeOy oldin
  • OVER 90000

    Antonio TravAntonio TravOy oldin
  • None. Thank you for watching

    Bill BanDohBill BanDohOy oldin
    • Ah yes, working ourselves to death because we can’t afford to retire...

      Angel SAngel SOy oldin
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