65 Million
On average, 65 million Americans received monthly benefits in 2021, as stated by the Social Security Administration. Since America has a current population of about 332 million, this means that nearly 20% of all Americans receive monthly benefits from the Social Security program.
But this number is about to grow as Americans are living longer than ever before. It is said that their life expectancy is about 30 years longer than a century ago. This indicates that America has many more seniors than it has in the past.
To give you an idea, from 2012 to 2019, the total population aged 65 and over has increased by 12,159,974 people. That’s actually the main reason why the Social Security program could experience difficulties as soon as 2034.
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NJ should be on your list of “12” as Social Security is taxed federally.