From Nasdaq.: 2025-06-22 02:56:00

1. The Social Security Act was signed into law in August 1935, with the first retired-worker benefit issued in January 1940, providing financial stability for many. An updated analysis from the Center on Budget and Policy Priorities revealed that Social Security lifted over 22 million people above the federal poverty line in 2023, with 16.3 million aged 65 and above benefiting the most, reducing the poverty rate for seniors to 10.1%.
2. Social Security benefits are crucial for retirees, with Gallup surveys showing that 80% to 90% of respondents find it necessary to cover their expenses. In May, the average Social Security check for retired-worker beneficiaries surpassed $2,000 for the first time in history.
3. The Social Security Administration’s Monthly Statistical Snapshot details the breakdown of benefit recipients, with over 69.6 million beneficiaries in May 2025. The average payout to all categories was $1,857.75, with retired workers receiving the highest average benefit of $2,002.39.
4. Despite the record average benefit for retired workers, the purchasing power of a Social Security dollar has been declining due to inflation. The Consumer Price Index used for adjustments does not accurately reflect the spending habits of retirees, leading to a 20% drop in buying power since 2010.
5. The Motley Fool reveals "Social Security secrets" to boost retirement income by maximizing benefits, potentially increasing annual payouts by $23,760. Join Stock Advisor to learn more about these strategies for a confident retirement.

Read more at Nasdaq.: It’s Official: Social Security Retired-Worker Benefits Have Made History