Social Security: Average Benefits at Age 70 for Middle-Class Retirees

Retirement Benefits Overview: Understanding average retirement benefits by age is crucial for financial planning, with the average Social Security check for retirees at age 70 being $2,176.76, while considering factors like income and taxation on benefits.

Planning Strategies: Effective retirement budgeting includes converting pre-tax retirement funds to Roth accounts during early retirement years and recognizing the importance of tax diversity in retirement assets to avoid underestimating the duration of retirement.