personal finance

How Much You Can Expect to Get From Social Security If You Make $15 Per Hour

More than 69 million Americans received Social Security benefits in 2019.

For the average worker, those benefits will work out to about $1,500 per month.

The size of your check, however, will be based on the income from your working years, the year you were born and your age when you decide to start receiving Social Security.

Your benefits are determined by "bend points," in an equation. Almost like a tax bracket, but it's used to give you money instead. The less money you've made, the higher a percentage of your salary you will get back. This is designed to help low-wage retirees.

How much should you expect from Social Security if you make $15 per hour? Watch this video for a breakdown of how much you will get and how your monthly benefit will be calculated.

More from Invest in You:
How Walmart and other big companies are trying to recruit more teenage employees

Americans are more in debt than ever and experts say 'money disorders' may be to blame
How much money do you need to retire? Start with $1.7 million

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

Copyright CNBC
Contact Us