{"id":32427,"date":"2024-12-20T11:00:22","date_gmt":"2024-12-20T16:00:22","guid":{"rendered":"https:\/\/vibes.okdiario.com\/vibus\/?p=32427"},"modified":"2025-01-05T18:50:02","modified_gmt":"2025-01-05T23:50:02","slug":"65-yo-average-payment-social-security","status":"publish","type":"post","link":"https:\/\/futbolete.com\/us\/65-yo-average-payment-social-security\/","title":{"rendered":"65-year-olds average payment after the 2025 COLA from Social Security"},"content":{"rendered":"

The Social Security Administration<\/strong> claims that the average payment for all retired workers<\/strong> is about $1,927 in December 2024<\/strong>. However, if you have filed before Full Retirement Age, your payment is lower than that amount on average.<\/p>\n

According to the Motley Fool, the average payment for retirees aged 65 is about $1,505 in 2024<\/strong>. Therefore, the total amount of money retirees get on average in one year<\/strong> is about $18,060<\/strong>. If you just worked for ten years and had a low wage, you may get a much lower payment. On the contrary, high earners could get a lot more.<\/p>\n

How much will the average Social Security check for retirees be after the 2025 COLA increase?<\/h2>\n

Thanks to the 2.5% COLA increase,<\/strong> if your average check at 65 is about $1,505 in 2024, it could become $1,542 after the boost.<\/strong> This means retirees aged 65 can get about $37 extra per month.<\/p>\n

For your information, retirees aged 65<\/strong> may receive a lower-than-average boost. This is because they may have filed before Full Retirement Age and they got a reduction from Social Security.<\/p>\n

The COLA Fact Sheet claims that the average boost will be almost 50 dollars for all retirees.<\/strong> So, it means this age group will receive about 12-13 dollars less than others.<\/p>\n

What if your payment is not the average at 65?<\/h2>\n

If your Social Security payment<\/strong> is about $1,000 in 2024<\/strong>, you will receive $1,025 in 2025<\/strong>. If it is about $500, it will become $512.50. Those who receive 600 dollars in 2024 will get $615 in 2025.<\/p>\n

Some retirees aged 65 may get 700 dollars,<\/strong> so their payment will become $717.50. Having a check worth $800 will mean you will receive $820 in 2025 after the 2.5% COLA boost.<\/p>\n

Higher amounts are also possible if you were a high earner as a worker. For example, if you receive $2,000 in 2024<\/strong>, it will become $2,050 in 2025. After the boost, your $2,500 payment can become $2,562.50 in 2025. The first payments when retirees can get the 2025 COLA will be on January 3, 8, 15 and 22, 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Social Security Administration claims that the average payment for all retired workers is about $1,927 in December 2024. However, if you have filed before Full Retirement Age, your payment … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":32766,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[51,41,37],"class_list":["post-32427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-payment","tag-retirement","tag-social-security"],"_links":{"self":[{"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/posts\/32427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/comments?post=32427"}],"version-history":[{"count":0,"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/posts\/32427\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/media\/32766"}],"wp:attachment":[{"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/media?parent=32427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/categories?post=32427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/futbolete.com\/us\/wp-json\/wp\/v2\/tags?post=32427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}