This Was the Average Social Security Benefit in 1985, and Here's What It Is Now
Anyone with a memory of 1985 can tell you how much things have changed over the past 40 years: Phones were the size of bricks, listening to music in a car meant carrying cassette tapes, and the movie rental company Blockbuster was just created.Another thing that's changed significantly in the past four decades is the average monthly Social Security benefit. In 1985, it was $479 for retired workers, or just over $5,748 annually.Today, 40 years later, the average monthly benefit as of January is $1,979, or close to $23,750 annually. That's over a 313% increase.Continue reading
Anyone with a memory of 1985 can tell you how much things have changed over the past 40 years: Phones were the size of bricks, listening to music in a car meant carrying cassette tapes, and the movie rental company Blockbuster was just created.
Another thing that's changed significantly in the past four decades is the average monthly Social Security benefit. In 1985, it was $479 for retired workers, or just over $5,748 annually.
Today, 40 years later, the average monthly benefit as of January is $1,979, or close to $23,750 annually. That's over a 313% increase.
