Overview

• The average monthly Social Security benefit in 2025 is $1,980, providing just $23,760 annually, slightly above the poverty line for a two-person household.
• Social Security trust fund reserves are projected to be depleted by 2035 without legislative action, potentially reducing future benefits.
• Nearly half of Americans aged 65 and older rely on Social Security for at least 50% of their income, with one in four depending on it for 90% or more.
• Experts recommend saving 15% of annual income for retirement, but most workers only contribute around 9%, leaving many unprepared for retirement costs.
• A growing number of workers (40%) anticipate working during retirement to supplement insufficient savings and Social Security income.