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The average monthly Social Security retirement benefit is a key piece of information for those planning their retirement. To address the question, the average monthly Social Security retirement benefit provides insight into the typical amount retirees receive from the Social Security Administration. This figure is crucial for financial planning and helps individuals estimate their future income. Understanding this average benefit can aid in making informed decisions about savings, investments, and retirement timing. In summary, knowing the average monthly Social Security retirement benefit is essential for effective retirement planning. This information helps individuals gauge their expected income from Social Security, allowing them to better prepare for their financial needs in retirement.