Retirees in 5 cities receive highest Social Security checks in the U.S. but still insufficient

Reported 6 months ago

Millions of Americans rely on Social Security for retirement income, with an average benefit of $1,907 per month. SmartAsset ranked 345 cities by average Social Security benefits, revealing Ann Arbor, Carmel, Goodyear, Cambridge, and Allen as top cities. Despite benefits exceeding the national average by up to $7,544, residents in these cities would face financial struggles due to high living costs. Social Security alone is insufficient for retirement, even for high earners, as benefits replace only 40% of pre-retirement income. Savings are crucial for a secure retirement, regardless of residing in higher-benefit cities.

Retirees in 5 cities receive highest Social Security checks in the U.S. but still insufficient

You may also interested in these wikis