Social Security has just celebrated its 90th anniversary, and despite the challenges it faces, it remains one of the most important financial lifelines for millions of Americans. According to the Center on Budget and Policy Priorities, the program lifts 22 million people above the poverty line.
At the same time, a 2025 Nationwide Retirement Institute survey revealed that 56% of respondents said they wouldn’t survive financially if they lost even half of a Social Security check.
How Much Are Social Security Benefits Worth?
As of July 2025, the average monthly benefit for retirees is $2,007, or about $24,000 annually. However, the amount you receive depends on your age, work history, and gender.
Here’s a breakdown of the average monthly benefit by age:
| Age | All Beneficiaries | Men | Women |
|---|---|---|---|
| 62 | $1,342 | $1,486 | $1,207 |
| 64 | $1,425 | $1,574 | $1,289 |
| 65 | $1,611 | $1,785 | $1,453 |
| 67 | $1,930 | $2,143 | $1,719 |
| 70 | $2,148 | $2,390 | $1,909 |
| 75 | $2,065 | $2,278 | $1,857 |
| 80 | $2,006 | $2,206 | $1,816 |
| 85 | $1,944 | $2,120 | $1,788 |
These numbers are averages, so your actual benefit may be higher or lower. To get a personalized estimate, the SSA recommends setting up a “my Social Security” account.
The Challenges Ahead
While Social Security has been reliable for decades, the program faces a financial crunch. With people living longer and retiring earlier, the system is paying out more than it takes in. Projections suggest that without reform, benefits could be cut by up to 23% within the next decade.
Adding to the pressure, President Trump’s “big, beautiful bill” — while offering some tax relief — may accelerate the depletion of the Social Security trust fund by reducing revenue.
Why You Shouldn’t Rely Solely on Social Security
Although Social Security will likely remain a key income source for retirees, it’s risky to depend on it alone. Experts advise building other streams of income, such as:
Employer-sponsored retirement accounts (401(k), pensions)
Individual Retirement Accounts (IRAs)
Investments in stocks, bonds, or real estate
Side income or part-time work in retirement
This approach helps protect your financial security if benefits are reduced in the future.
At 90 years old, Social Security continues to be a cornerstone of retirement in America, supporting millions of seniors and lifting millions above poverty.
Still, the program’s long-term challenges make it clear: retirees should not expect Social Security alone to cover all expenses. Planning ahead, saving consistently, and exploring additional income sources are crucial for a secure retirement.
