This Was the Average Social Security Benefit in 1984, and Here's What It Is Now
Beneficiaries are receiving considerably more now than they were then, but things cost a great deal more too.
You may already know that this year's average monthly Social Security payment stands at a respectable $1,976. But that wasn't always the case. This number is regularly adjusted to account for inflation. It's called a cost-of-living adjustment, or COLA for short.
This regular increase begs the question: What was the typical Social Security check worth back in, say, 1984?
In 1984, the average Social Security check was a mere $460.57 per month.
