In 2025, the average Social Security benefit for a retired worker at age 65 is approximately $1,545 per month, representing 86.7% of the full retirement benefit, which averages around $1,784. The specific amount you receive depends largely on when you choose to claim your benefits, with earlier retirement leading to reduced payments and later retirement resulting in higher monthly checks.
For those aiming to maximize their Social Security, timing is everything. If you claim benefits as early as age 62, your monthly payment will be reduced by 30%, bringing it down to approximately $1,247 from the full benefit. Waiting until your full retirement age (FRA), which is 67 for those born after 1960, ensures you receive 100% of your entitled benefit. However, delaying further until age 70 can significantly boost your payments to 124% of the full amount, or approximately $2,210 per month.
The Social Security Administration provides detailed insights into how payments adjust month by month as you approach your FRA. For instance, at age 65, your benefit increases slightly each month you wait. At 65 and 6 months, you would receive $1,604, and by 65 and 11 months, your payment would rise to about $1,654. This incremental growth rewards patience, making a compelling case for delaying benefits when possible.
Average Social Security benefits at age 65 revealed
Tom Martin, a financial advisor specializing in retirement planning, emphasizes the long-term impact of waiting. “Each year you delay claiming Social Security after your FRA adds about 8% to your benefit,” he explains. “That can make a huge difference, especially if you anticipate a long retirement.”
One crucial factor to consider is your financial needs and health. While waiting until 70 yields the maximum monthly payout, it’s not always feasible for everyone. “The key is to align your claiming strategy with your overall financial situation and lifestyle,” says Martin. “If you need the income earlier or have health concerns, it might make sense to claim earlier.”
For many Americans, Social Security remains a vital component of retirement income. Knowing how your claiming age affects your monthly check can help you make an informed decision. Whether you choose to claim at 62, 65, or later, understanding the numbers ensures you’re prepared to navigate this important milestone. Remember, the difference in waiting could mean hundreds more in your pocket each month-money that could go a long way in supporting your retirement dreams.