When it comes time to retire for workers in the United States, everyone wants to have a good benefit. It is normal that one of the biggest goals in life is to collect a high Social Security. The retirement years should be a time to relax and enjoy your time as a worker. For that reason it is always a good idea to look for the best places to live when collecting Social Security.
In addition to that, there are also places where you receive more money from Social Security. This does not mean that retirees who live in these places get a higher benefit. The maximum Social Security amount for retirees and people with disabilities is currently $4,194. This is in 2022, as next year, because of the COLA and possible increase through the new bill retirees could see an increase in this amount.
The 5 states with the highest Social Security
To come to the conclusion of the 5 states with the highest Social Security we have taken into account the data offered through GoBankingRates. SSI payments have not been added to the final money. The only reference we have used is how many beneficiaries there are in these states and what their benefits are. Let’s take a look at the states:
5. Pennsylvania
In the state of Pennsylvania there are a total of 2,877,728 Social Security beneficiaries. The total amount of money they receive between all of them is $4.25 billion. This makes this State in the 5th place in this very special ranking.
4. New York
The Big Apple State is in fourth place in this ranking of the states with the highest Social Security. The amount of money distributed in New York is $5.40 billion among the 3,680,264 retirement beneficiaries.
3. Texas
If you are a Social Security beneficiary and receive your benefit every month you share $6.11 billion with 4,421,802 other retirees. That’s a large amount of money, but the number of retirees is really large when compared to other states.
2. Florida
When we live in the state of Florida and collect Social Security we are part of a family of 4,840,275 receiving the same financial benefit. In terms of amount of money, the figure amounts to 6.94 billion dollars, something really big and important. For this reason it is in second place on the list.
1. California
Last, but at the same time at the top of the list, we find the state of California. This place receives a Social Security amount of 8.66 dollars that is distributed among 6,150,009 people. This state has a lot of people and, among them, a large number of retirees.