The average Social Security retirement payout for all retired workers as of January 2024 was $1,907, according to gobankingrates.com. Nearly three in five seniors collecting Social Security are struggling financially and 62% said the 3.2% cost of living adjustments (COLA) for 2024 is insufficient to cover their expenses and support their lifestyle, a recent Atticus survey said. Beneficiaries saw an extra $59 monthly starting this January based on 3.2% COLA. The adjustment is lower than in previous years because