How Much is Social Security? [The Retirement Savings Crisis Explained]

How Much is Social Security? [The Retirement Savings Crisis Explained] https://youtu.be/WLnqqo4-tyA Exactly how much you can expect from social security and average living expenses in retirement. There is a retirement crisis waiting for millions and the tragic fact that you cannot live on social security alone. In this three-part series on the retirement income gap, I’ll first show you how much is social security and how much you can count on. I’ll then show you how to make more money in retirement and how to pay the bills. See how easy it is to guarantee income in retirement with AgeUp and a deferred annuity. Use the free retirement income calculator and find your number in less than a minute. https://ift.tt/2yw0PvA The average social security check is under $1,500 after taxes and some people don’t even qualify for benefits. Even at that average amount, it doesn’t come close to covering the average living expenses of $50,000 for a retired couple. We’ll start by looking at the qualifications for social security benefits. Then I’ll show you exactly how to calculate social security including a few examples. I’ll show you what it’s like to live on social security in retirement, what you can pay for and what you’ll miss. I’ve seen it and it’s not the kind of golden years you always wanted. Against this retirement income gap, people are increasingly looking to annuities for guaranteed income. 0:45 Average Living Expenses in Retirement 1:20 How to Live on Social Security in Retirement 4:05 Do I Qualify for Social Security? 4:40 How Much Will I Get from Social Security? 7:25 What is an Annuity? Join the conversation in our private Facebook Group! https://ift.tt/2SL3NCQ Join the Let's Talk Money community on Instagram! https://ift.tt/336QCQl SUBSCRIBE to create the financial future you deserve with videos on beating debt, making more money and making your money work for you. https://ift.tt/2zsdiOe Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps. #retirement #socialsecurity #retirementincome Let's Talk Money! with Joseph Hogue, CFA