For the first time in 90 years, the average monthly check for retired workers has surpassed a psychologically important level.

According to the 2024 Social Security Trustees Report, the Old-Age and Survivors Insurance (OASI) Trust Fund reserves are projected to deplete by 2033. If no measures are taken, a 21% reduction in Social Security checks might be necessary.

We talked with a retired CPA who worked 35 years before retiring at 67. She shared exactly how she allocates her monthly Social Security payment.