Many companies featured on Money advertise with us. Opinions are our own, but compensation and
in-depth research may determine where and how companies appear. Learn more about how we make money.

By:
Editor:
Published: Mar 14, 2023 3 min read
Senior African American couple using laptop, contemplating with oversized social security cards behind them
Money; Getty Images

Older adults today face a host of challenges when it comes to financing their retirements — and now, new data suggests some miscalculate how much money they’ll receive from Social Security.

A paper authored by researchers at the American Enterprise Institute and George Mason University found that a significant number of pre-retirees underestimate their future annual Social Security income by nearly $2,000. An even larger portion undervalued those benefits by over $5,000.

What the data says