Being retired isn’t as easy and it seems. People tend to assume that when Americans retire, they receive Social Security and that will be enough. Well, as it turns out, Seniors will receive a raise in 2020 for only 1.6%. This is significantly less than the 2.8% increase they got in 2019. The Social Security Administration announced that the average monthly benefit will rise from $1,479 in 2019 to $1,503 next year. Annually, that’s going from $17,748 to $18,036. To top it off, this amount varies by state. Each state ranks differently for Social Security benefits, so we’ve compiled a list of all 50 states, starting from the smallest average payments to the largest. The data is based on recently released numbers of retired workers on Social Security in each state and the total benefits they got in 2018.
Louisiana
According to the Social Security Administration, 540,818 Louisiana retirees collected an average of $1,362.52 per month in 2018. That adds up to $16,350 a year. It isn’t very far over what the federal government considers a poverty income for a single person, which is $12,499 a year.
Louisiana
