Nearly 68 million U.S. adults will receive a Social Security check in 2024, and benefits make up a significant source of income among retirees. In fact, 37% of men and 42% of women rely on their checks for at least half of their retirement income, according to 2024 data from the Social Security Administration.

While the program is a lifeline for millions of older adults, Social Security has changed a lot over the past decade. Average payments have gone up substantially, but that's not necessarily enough to solve the challenges the program is facing.

This is how the average and maximum benefit amounts have changed since 2014 -- as well as some not-so-good news about the future of Social Security.

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Source Fool.com