Average Social Security benefit is $1,919.40/month, with expected increase to $1,968.73 in 2025.

From Nasdaq: 2024-08-30 03:18:00

The average retired worker on Social Security received $1,919.40 per month in July 2024, totaling over $23,000 annually. A 2.57% increase is expected in 2025, potentially raising the average benefit to $1,968.73 monthly. Tips to maximize Social Security include increasing income, working a full 35 years, and delaying retirement.

For retirees with lower benefits, working in the gig economy can provide extra income without affecting Social Security payments. Relocating to areas with lower costs can also stretch monthly benefits. Uncover little-known Social Security strategies to potentially boost retirement income by thousands of dollars annually.



Read more at Nasdaq: Is Your Monthly Social Security Benefit Higher or Lower Than the Average Retiree’s?