Social Security is a main source of income for retired Americans.
But how much is the monthly benefit?
How much is the average benefit?
Social Security is a vital form of income for retired Americans. More than 50 million retirees receive benefits. The Social Security Administration (SSA) has a variety of programs designed to provide financial support for Americans. However, retirement benefits are the most widely used.
Figures from the SSA show that the average monthly benefit for retired workers is $1,621.27. Spouses of retired workers usually get $836.19 on average, while children of retired workers typically get $786.70.
Across the US, about 30% of the total income of the elderly comes from Social Security benefits.