Average Social Security Payments by State

I have long advocated for making sure you have a good understanding about Social Security and your specific benefits. Most are surprised by the amount and that it can vary so widely between people.

I ran across this article about the averages by state. Be sure to check it out and see where your state is!

It can be helpful to think about the state you live in and compare to the cost of living in that state.

First off, the article hits us with a stat that 77% rely on Social Security to make ends meet. In many cases, it can be the only social insurance program keeping people from poverty or worse.

In my state of California, arguably one of the most expensive, the average and median payouts of Social Security benefits are some of the lowest.

One of the other shocks that most people experience when they look at Social Security is that in every state we are within $1700-2100 a month range. This places recipients just over the poverty level of income which is a touch over $1300 a month.

Here is a link to the original article.

https://apple.news/AegNNjWo4TQmLprcEKbIepg

As always, if you come across a financially related article you’d like to send my way please do! 

Best place to send them is to me.

More next time!

Jonathan