This Was the Average Social Security Benefit in 1974, and Here's What It Is Now

A lot has changed in the past 50 years. We now have the internet, cars are beginning to drive themselves, refrigerators can tell you when you're almost out of eggs, and the U.S. has had 10 presidents in that time.Another change in the past five decades is the amount people receive monthly in Social Security retirement benefits. In 1974, the average monthly payout was $188.21. As of October 2024, the average monthly benefit for a retired worker is $1,924.35.Although the roughly 922% increase in monthly benefits may seem impressive, it's also necessary given the significant increase in the cost of many items over that time.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool