How Much Is The Average Social Security Check? What Can YOU Expect

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[Sky]

I do not think average is even worth mentioning.Because there are so many dead beats in this country. So few people pulling the cart so many people on the dole. Now the people who did all the work are retiring. Somebody needs to pull the cart and nobody wants to.

[Omikoshi]

1:25 I misheard and thought you called yourself “hey a**hole” 😂

[howardfriedman]

Azul: SS stopped sending out statements annually to everyone, many years ago. Only those over 60 years of age who did not open an online account at SSA, still get statements mailed to them.

[MrRerod]

Seems to me since no one has ever proven clear cut advantages for taking ss early, middle or late, it makes no difference, or not enough to pay a pro thousands unless you were a multi millionaire.

[leehaskins]

I’m 61.. taking my SS at 62 for sure !!!! no reason to wait…. take it and enjoy it earlier in life… they base it on getting the same amount when ever u take it.. take it at 62 if u are retired at 62...

[CA]

It seems to me those born in the 30-40s always took their SS at 62. For those folks there was only a few 100.00 difference to their FRA. But for me between 62&67 is over a 1000.00 difference. So it really pays to wait. And of course those older folks didn’t have the work penalty when they went early either.

[ReadEphesians]

Thank you. I like the way you shared specific numbers...👍🏾

[BigORat]

Personal Finance should be an absolute teaching in High School instead of BS that will not help the students out in real life.

[sz]

Fantastic advice about hiring a Fiduciary, Are they & 100% of the time? AND IN WRITING! Theres no increase for a lower or no wage spouse in claiming spousal or survivor's benefits, past their own FRA.

[AuthorCAL]

I've called SSA numerous times in the past couple of years and they are SO HELPFUL! I've set up both phone call appointments and in-person appointments. They listen and will work with you until you get the answers you want. I ran the numbers for taking early vs taking later, and in my case, I get more over my lifetime (projecting death at 90 years of age) by taking early. So, I like to look at NOT the monthly amount, but the TOTAL amount I get over the next 20-30 years.

[romeo-zwzw]

Now they trying to change it to 70😃guess imma be in a wheel chair working...

[davidhankins]

Does a pension count in your calculation of net worth. My pension is equivalent to having 500 k in savings and drawing at 5%. I'm just curious, thanks!

[miragexl]

Interesting to think how it's calculated.. top 35 years of working, with post degree/Real money/ professional income starting about 25 years ago started at 15.56 as a nurse.

[jdgolf]

Full disclosure, I was in a hurry, so only watched about 5 minutes. These averages mean nothing to those retiring now or in the future. My Dad just passed last month at 99 years old. He retired in 1980 at 56 years old, collected SS at 62. His current benefit, after 37 years of COLA increases, is about 1700 a month. He worked in the same industry as me, the auto industry, and his position was far higher than mine when I retired last year, but I made a lot more. I am 63, and if I took my SS today, I would get about $2200 a month, at 63.

[moonshynegirl]

I checked mine. I'll be 62 in December of 2024. At 62, it will only be $840/month. Maybe that's due to the 20 years I didn't work while raising my children and the years I was in college not working. I have the 40 points/credits, but haven't earned enough to be able to retire any time soon. My ex is younger so won't retire before I'll want to. I'll lose my mind if I have to wait until 67.

[richardross]

The song, ”go on take the money and run” kept playing in my head while deciding to take my s.s. At 62!, , , 😊

[MostlyHarmlessNebr-gbdi]

For being completely accessible (and not really that complex or having changed all that awfully much), very few people actually pay attention to how a Social Security benefit is calculated. Particularly as regards the 'bend points'. I know a lot of people who keep working because "it'll increase my Social Security". Maybe. For higher earners at a more normal retirement age, once you're past the 2nd bend point, you're only getting 15% of additional income (averaged over 35 highest earning years). Very hard to move the needle much in a year or two at that point. For us lean-FIRE types who often don't have 35 years of substantial contribution history, making sure we get up to the first bend point is important (because you get 90% of that), beyond that is less of a big deal.

[punkbassandcovers]

SSA website is very helpful as to what to expect in your own situation. They've already added 2023 taxable income when I checked last night. Here at 41 years old with a chronic condition ill be taking it at 62 for sure...would rather opt out all together if i could.

[firefeethok_tui]

Social security use to be enough with two people, who stayed in a home they bought and paid off. But not anymore. People sell, move, change etc. Social security sec is a supplement now and should be viewed as such for any currentley working person. You have to save on your own. If younstart at age 20-25, you do t have to save much in order to have edequate retirement. But if you wait until you’re 45 or even 40 to start saving? You’re going to have a very tough time.

[TimothyBiliouris]

I am dumbfounded why the social security earnings cap is not eliminated.
90% of Americans are relying on SS benefits.
Do we really live in a democracy ????