Social Security benefits of retired workers
Social Security benefits of retired workers
How much is the average Social Security check of retired workers
In a recent article published by TheMotleyFool, according to Gallup, most Americans depend on Social Security benefits. About eighty-eight percent of retired working Americans depend on Social Security benefits, and eighty-two percent of current workers believe that the benefits will be a source of income when they retire.
Given those statistics, the average Social Security check for retired workers and current workers alike must know which factors impact their Social Security payments. For instance, retired-worker average Social Security check vary dramatically by state, and geography does influence the amount of income Social Security provides, but not because workers in any particular state are awarded higher benefits simply because they live there.
The Social Security Administration publishes monthly snapshots detailing the average Social Security check paid to different beneficiary groups. This is because the average Social Security check differs from one state to another.
Read Also:What is the average Social Security check?
The average Social Security check monthly for retired-worker was $1,825.14 in Dec. 2022, slightly lower than the current average Social Security check of $1,838.58.
The five states in which retired workers get the biggest average Social Security check are Connecticut, New Jersey, Delaware, Maryland, and New Hampshire.
The five states in which retired workers get the smallest average Social Security check are Mississippi, Louisiana, Arkansas, New Mexico, and Kentucky.
The five states (or territories) in which retired workers get average Social Security check that most closely align with the national average are Hawaii, North Carolina, Florida, Oregon, and Washington, D.C.
So here’s the all-important question: What causes the average Social Security check discrepancy between retired-worker in different states? Some readers may find the answer somewhat unsatisfying as random chance plays a large role. But there is an indirect connection between the state of residence and Social Security benefits.
Read Also:Everything You Need to Know About Social Security Benefits
