The importance of Social Security for retired Americans simply can't be overstated. Each month, 62.1 million payouts are made to eligible beneficiaries, nearly 69% of whom are retired workers. Of these retirees, more than 3 out of 5 lean on Social Security to account for at least half of their income.
Without this guaranteed payout, the elderly poverty rate would be much higher than it is now.7 Factors That'll Affect Your Social Security Check
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