This Was the Average Social Security Benefit in 1964, and Here's What It Is Now

If you know much about generations, you may know that the baby boom generation encompasses those born between 1946 and 1964. If you were born in 1964 and you're among the last of the baby boomers, you're around 60 years old and in two years, at age 62, you'll reach the earliest age at which you can claim your Social Security benefits.How much can you expect to collect from Social Security? Well, know that the average monthly Social Security retirement benefit was $1,920 as of August, amounting to about $23,000 annually. If that doesn't seem like much, here's a bit of a shocker: Back in 1964, the average benefit was a mere $77.57 per month.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool