This Is The Average Social Security Check In Each State

When Social Security was established in 1935, American life expectancy over age 65 was approximately 13 years. With advancements in medicine, that life expectancy has risen by almost 54%, to nearly 20 years. These longer life spans have brought the challenge of paying more money out over longer periods. The Social Security Administration (SSA) estimates 64 million Americans have received Social Security benefits in 2021.

The SSA responded by incentivizing maximum monthly benefit amounts for individuals who wait longer to retire. A 62-year-old retiree received up to the maximum monthly benefit of $2,324 in 2021. However, an American who waits until 70 to retire can receive up to the maximum monthly amount of $3,895.

But did you know that the average monthly payment can vary widely, based on the cost of living in the state you choose to retire in? This is how all 50 states, plus the District of Columbia, rank in terms of Social Security payments. Some people might be on the move…

51. Louisiana

Average annual benefit: $16,350

In 2018, 540,818 Pelican State retirees collected average monthly benefits of $1,362.52. Tax-friendly Louisiana exempts benefits from state income tax and offers deductions to offset taxes on other retirement income.

Property taxes rank low comparatively. Homestead exemptions and senior citizen assessment freezes reduce it further. The state sales rate is very low at 4.45%, but localities raise the average to the nation’s third-highest.