The Average Social Security Retired-Worker Check Is on Track to Plunge $553 Per Month by 2033.
For most retired workers, Social Security is more than just a monthly deposit into their checking or savings account. It represents a pillar that, in many instances, is necessary to support their financial well-being.
In each of the last 24 years, national pollster Gallup has surveyed retirees to gauge how reliant they are on their Social Security income. In April, 86% of respondents pointed to their benefits as a "major" or "minor" income source. This is consistent with prior years, where 80% to 90% of retirees stated their reliance, in some capacity, on this leading social program.
Ideally, maintaining the health of America's top retirement program should be the No. 1 priority of our elected officials. But based on the current trajectory of this vital program, retired-worker beneficiaries may be staring down a sizable reduction in their monthly payout come 2033.
Source Fool.com
