Social Security is an important part of retiring in America.
Social Security benefits represent about 33% of the income of the elderly. And nearly 9 in 10 individuals age 65 and older receive money from the government program.
Benefits are based on your income, the year you were born and your age when you decide to start taking money out.
Remember: Social Security was not designed to be your sole source of income for retirement, and the totals are always changing.
So how much should you expect in Social Security benefits if you make $45,000 a year? Watch this video for a breakdown of how much you will get and how your monthly benefit amount will be calculated.
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Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.