Retiring on Social Security Alone in 2026? Here's the Monthly Income You May Be Looking At.

Core Insights - The article emphasizes the importance of evaluating financial readiness before retirement, particularly for those planning to retire in 2026, and suggests that relying solely on Social Security may not be sufficient for a comfortable retirement [1]. Financial Overview - The average monthly Social Security benefit for retired workers was $2,013.32 as of November 2025, which translates to approximately $24,000 annually. This amount is expected to increase slightly due to a 2.8% cost-of-living adjustment (COLA) in 2026 [3][5]. - Medicare Part B premiums are projected to rise to $202.90 per month in 2026, which will be deducted from Social Security benefits, potentially reducing the net income available to retirees [4]. Retirement Planning Strategies - The article suggests that individuals relying solely on Social Security should consider delaying retirement to build additional savings, such as contributing to an IRA or 401(k), which can provide financial flexibility [6]. - Even a modest contribution, such as $12,000 into an IRA over two additional working years, can help cover unexpected expenses during retirement, thereby enhancing financial security [7][9]. - The article highlights the potential struggles retirees may face if they depend exclusively on Social Security, advocating for supplementary income sources, including part-time or gig work, to improve overall financial stability [8].