Financial Guru Dave Ramsey isn't a fan of Social Security. He often describes the program as a "mathematical disaster" that "robbed" him of his own earned money for decades. US Social Security benefits help over 70 million people with monthly income, with the average check estimated to be $1,976 for all retired workers in January 2025. Those retiring at 62 in 2024 could collect a maximum of $2,710 in monthly Social Security income. The checks get as big as $4,874 for US workers retiring at 70 this year.
Americans are increasingly locked into low monthly Social Security income as they retire prematurely due to health reasons, layoffs, or financial distress. You receive full benefits due based on the Social Security payroll taxes you contributed in your working years when you claim at the full retirement age. Most financial experts recommend delaying retirement, often beyond the full retirement age of 67, for those born after 1960, as the benefit amount continues to increase for every month of delay until the age of 70.
