Women get $354 less in Social Security than men - here's why

The reason why Social Security checks can cover bills for some retirees and not others is 

That benefits are based on income earned before retirement. The more money you earn working, 

The more you pay into the Social Security system, and the higher your benefit. It is possible for two 

Retirees to work the same number of hours and years but still receive drastically different Social Security checks.

This explains why women's Social Security checks are much smaller than men's. According to USA Today, 

Men received an average of $1,848 per month in May 2022. Women received an average monthly check

Of $1,494 per month, a difference of about $354 per month, or $4,248 per year.

It is estimated that the average man will receive about $85,000 more in Social Security benefits

During a 20-year retirement than the average woman. The difference is more than $127,000 over 30 years.

There's no need for an economics degree to understand why: Women have consistently earned 

less than men over the decades - and that pay gap still exists. According to Payscale's 2022

State of the Gender Pay Gap Report, women earned 82 cents for every dollar men earned in 2022, 

According to the Society for Human Resource Management. It is also more common for women to 

leave the workforce to care for children than for men. Over the course of their professional lives,

They do not earn nearly as much as men. It impacts their Social Security retirement benefits, 

Which are calculated based on income during their 35 highest-earning years. 

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