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The “Average” Social Security Benefit…For What It’s Worth

It’s fairly typical for people to want to see where they stand in relation to those around them, and when it comes to looking at Social Security benefits, that’s probably true. A post today by The Motley Fool’s Maurie Backman on their website offers an update to the average monthly benefit for 2024 after factoring in the cost-of-living adjustment that comes in January. In simple arithmetic, 2023’s average of $1,848 goes to $1,907 in January, but don’t forget the $10 increase in Medicare Part B premiums that will affect Medicare enrollees. The net, then, becomes $1,897. Read Ms. Backman’s post here for the complete story.

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