As of June 2023, the average retired worker was receiving $1,837.29 each month from Social Security, or a little over $22,000 on an annualized basis. While this isn't a particularly large monthly payout, it's necessary income that between 80% and 90% of retirees lean on to cover some portion of their monthly expenses, based on what more than two decades of surveys from national pollster Gallup tells us.

Yet what you might be surprised to learn is that the average Social Security monthly benefit paid to retired workers can vary dramatically based on which state they call home.

Image source: Getty Images.

Continue reading

Source Fool.com