Here’s How Much the Average Retired Couple Will Get From Social Security in 2022

Social security has proven to give people integral benefits that unlike some pensions are guaranteed for life. In the words of AOC herself, social security was the reason she and her brother were able to afford college and be peacefully away from home as the money ensured their mother would have something to eat.

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This breaks the cycle of a person remaining poverty-stricken their entire life just because they don’t have the means to change their circumstances. Social security benefits essentially aim at disintegrating the structure of wealth remaining concentrated with the wealthy only which can eventually help to sustain a more balanced community.

 Social Security is also a significant source of income for retired couples as the money from SSA can help cover some essential costs. But how much would a retired couple be able to benefit from social security exactly?

Social Security

The Average Couple’s Benefit From Social Security:

As per the social security administration, by 2022 when both partners will be receiving social security benefits, it would average to be $2753 which has increased from a previous amount of $2559 in 2021. This means that the annual benefit a retired couple would receive will be $33036.

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The low amount can be surprising since an individual retiree will be receiving $1657 in the next year. But most couples don’t earn the same amount and one partner always is making more than the other or has possibly retired at an early age.

The benefits from social security can help with some additional costs but not enough for a retired couple to live on and it would be really difficult if the money from SSA is the only source of income for the household.

The reports by Bureau of Labor statistics show that an amount of $47579 annually was required averagely by a retired couple. But couples cannot be looking towards these programs being their only source of income. The program is meant to only supplement the additional costs and is designed to act as subsidiary assistance with other sources of income present.

Therefore, retired couples cannot rely solely on the funding by social security to perpetuate enough money for a substantial lifestyle. Retirees need to have a saving plan or some other alternative to act as an income source.

Maximizing the Benefit From Social Security:

Although seniors cannot depend on social security alone without having any other existing source of income, they can, however, maximize the benefits they can avail of through the program.

Just like communication is the pillar of a strong relation, elders will have to channel their connection with their partners as the key to maximizing the benefit is that partners coordinate on dissecting the most effective strategy to claim for the benefit. 

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In some cases, waiting till both partners are 70 to claim their benefits will be ideal. This will however depend on the condition if partners are around the same age or if they earned similar amounts and qualify for the program as per their work records.

The retired couple can take advantage of the delayed retirement credits as social security will increase the benefits for people who wait to reach their full retirement age before filing for benefits.

For example, your retirement age is around 68 and if you claim benefits at that time, they would be lesser than if you waited a couple of years which could get you a 16 percent increment in your total benefit as the retirement delayed credit.

Another strategy could be that the low earner files for benefits earlier while the high earner delays it longer and once the partner earning more receive their checks the low earner can switch to a couple of retirement plan if they’re more. That however depends on their history.

Nevertheless, it isn’t possible to file for retirement benefits and spousal benefits at the same time. The best advice is that spouses work together to approach a satisfactory claiming strategy to maximize their benefits.


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