If you earned the maximum amount for your entire working life and delayed collecting benefits until age 70, the most you might receive from Social Security in 2020 roughly 45,500 per year.
Needless to say the average is much less, about $18,000 per year.
Why should this surprise you? Social Security was never intended to be the sole source of retirement income. And yet, many Americans live their working lives as if that were the case.
The question average Americans should ask is, can I live twenty plus years in retirement on 40% or less of what I earn today?