How much can I expect to get from social security? The goverment provide you with this this handy calculator: https://www.ssa.gov/benefits/retirement/estimator.html Also don’t forget that your spouse can apply for spouse benefits, that works out to be about 50% of what you will get. More on spousal benefit here: https://www.ssa.gov/planners/retire/applying6.html.
You can generally expect to get a quarter of your income if you make $50,000 to $100,000. If you make more than $120,000, you can expect to get about $28,000 per year. We can discuss when to take out social security in a later article. In general, the longer you delay taking out social security, the higher the monthly payment you will get.
Money from social security will help quite a bit. Let say you will get $2,000 per month at 65. Your wife benefit is $1,000 per month. That is an income of $36,000 a year! Let say your goal is to have an annual retirement income of $100,000, social security will already provide you with $36,000, you will only have to save up enough to provide an annual income of $64,000.