Is your monthly Social Security benefit higher or lower than the average retiree's?

Millions of retirees collect a monthly benefit from Social Security. And while that money is able to serve as extra spending cash for some, for others, it's essential to paying for basic expenses like shelter, transportation and food.

You may be curious as to how your monthly benefit from Social Security compares to the average retiree's. And there's an answer, courtesy of the Social Security Administration.

As of July 2024, the average retired worker on Social Security was getting $1,919.40. That amounts to a little more than $23,000 per year in benefits.

Thankfully, that average monthly benefit should increase in 2025 once Social Security recipients get their annual cost-of-living adjustment. Recent estimates put that raise at 2.57%, which would turn a monthly benefit of $1,919.40 into $1,968.73. (Of course, that 2.57% isn't set in stone, so next year's average benefit may look different.)

If you're not yet retired and the average $1,919.40 benefit seems low to you, there are steps you can take to get more money out of Social Security. And if you're already retired and are locked into a lower monthly Social Security benefit, there are ways you can stretch that income further.

How to score a larger Social Security benefit

The monthly Social Security benefit you're entitled to in retirement hinges on your wages — specifically, the amount you earn during your 35 highest-paid years in the workforce. If you want more Social Security in retirement, do your best to grow your income, whether by chasing promotions or strategically switching jobs for higher pay. Building skills is a great way to set yourself up to do both, as is taking advantage of any mentorship programs your employer offers.

It's also important to make sure you've worked a full 35 years to get a more generous Social Security check each month. If you're nearing the end of your career and are a bit short in that regard, consider delaying retirement.

You can also snag a lot more money from Social Security by delaying your filing past full retirement age, which is 67 for anyone born in 1960 or later. For each year you hold off beyond that point, up until age 70, your monthly benefit gets an 8% boost.

How to make the most of the Social Security benefit you have

If you're retired and collect a lot less than $1,919.40 per month from Social Security, then you may be having a tough time making ends meet — especially if you don't have other income at your disposal. If that's the case, you can remedy the "no other income" part by joining the gig economy. Working even a few hours a week at your own pace could result in a nice financial boost that makes it easier to pay your bills.

And in case you're unsure, it's not a problem to work while collecting a monthly benefit from Social Security. If you're doing so before having reached full retirement age, then you'll need to be mindful of this year's earnings-test limits.

Otherwise, do some research and consider relocating to a part of the country where your Social Security benefits can go further. If you can find an area you're comfortable with that offers cheaper housing, groceries and expenses on a whole, you can do more with your monthly Social Security check.

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