Average Social Security Check in 2024: Insights and Predicted Trends
How far does the average Social Security check go in 2024?
The average Social Security benefit for a retired worker as of March 2024 is about $1,913 per month, while the average spousal benefit is roughly $912 per month.
2024 Annual Social Security Benefit
- One retired worker: $22,956
- One retired worker, one spouse claiming a spousal benefit: $33,900
- Two retired workers: $45,912
Living solely on these benefits poses challenges due to additional expenses.
Why is the average Social Security check rising?
Two key reasons for the rise are growing average incomes and cost-of-living adjustments (COLAs). While these increases help, many feel they don't fully cover rising expenses.
How can I make my Social Security checks go as far as possible?
Actions like working longer, boosting income, reducing expenses, and considering supplemental benefits can help stretch your Social Security benefits further.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.