Here's the Average Social Security Benefit at Ages 62 to 80

Source Motley_fool

Key Points

  • The average monthly benefit at age 70 is $2,274.68, which is $850.28 higher than the average benefit for a 62-year-old.

  • Typical senior households spend $61,432 annually, leaving a shortfall of $34,135.84 even for those receiving the peak average benefit at age 70.

  • The 3.6% cost-of-living adjustment that took effect in 2027 adds about $82 a month to the age-70 average benefit.

  • Motley Fool Issues Rare "Total Conviction" Buy Alert ›

Social Security is supplemental income for the vast majority of retirees. The monthly amount you collect depends heavily on the age you choose to start your benefits.

The Social Security Administration (SSA) bases your benefit on an average of your wages across your 35 highest-earning years, which are adjusted for inflation and run through a specific formula to determine your checks.

Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »

Close-up of a US $100 bill with Benjamin Franklin beside a Social Security card

Image source: Getty Images.

What retirees collect from age 62 to 80

Here is the average monthly retired-worker benefit by age, as of December 2025, the most recent data available.

AgeOverallMenWomen
62$1,424.40$1,572.83$1,285.50
63$1,435.81$1,580.81$1,300.20
64$1,478.00$1,624.93$1,342.07
65$1,607.27$1,772.00$1,457.40
66$1,807.28$1,998.75$1,629.09
67$2,016.48$2,234.41$1,801.82
68$2,052.64$2,272.40$1,836.58
69$2,096.95$2,321.96$1,876.96
70$2,274.68$2,529.62$2,024.08
71$2,247.76$2,494.57$2,006.83
72$2,205.21$2,432.49$1,981.87
73$2,207.96$2,437.40$1,983.67
74$2,178.87$2,401.64$1,962.42
75$2,144.88$2,358.96$1,937.42
76$2,157.21$2,373.40$1,949.26
77$2,170.80$2,391.89$1,959.06
78$2,140.16$2,352.82$1,936.04
79$2,155.77$2,374.04$1,947.29
80$2,106.29$2,309.85$1,912.67

Why the averages peak and plateau

The data reveal a 59.7% increase in average benefits between ages 62 and 70. The average monthly benefit at age 70 is $850.28 higher than at age 62, resulting in an annual gap of $10,203.36. This occurs because claiming at 62 can reduce benefits by 30%, while delaying until 70 earns credits worth 8% per year.

Averages slightly decline for retirees in their late 70s. This isn't a benefit cut for individuals, but a shift in who is included in the data. Older groups likely include more people who claimed early at permanent reductions.

Women make up a larger share of the oldest age groups because they live longer. At age 70, the average benefit is $2,529.62 for men and $2,024.08 for women, a gap of about $505.54 per month. This difference often reflects the gender pay gap or time spent out of the workforce for caregiving.

Even at the age-70 peak, the average annual benefit of $27,296.16 falls well short of senior needs. Typical senior households spend about $61,432 annually, according to the 2024 BLS Consumer Expenditure Survey, leaving a shortfall of $34,135.84. Social Security was designed to replace only 40% of pre-retirement income.

A 3.6% cost-of-living adjustment (COLA) will take effect in 2027. It will add about $82 per month to the average benefit at age 70.

The most useful benchmark for your situation is the row corresponding to your planned claiming age, not the overall peak.

For more on how Social Security affects your retirement, see this guide.

How will you cover what Social Security doesn't?

Regardless of when you claim, you will likely need other income sources to cover your retirement costs. The sooner you begin planning for this, the better your odds of retiring comfortably.

Most people supplement their Social Security checks with personal savings. If you have a 401(k) with a match through your job, this is a great place to begin. Or you could save in an IRA on your own.

Some workers may also qualify for a pension, though these are less common than in the past. If you are eligible for one, it may give you a monthly benefit just like Social Security.

Others choose to maintain a part-time job in retirement to supplement their Social Security benefits. It's also possible to rely upon more than one of the sources above. Think about what makes the most sense for you, and start putting together a plan.

The $23,760 Social Security bonus most retirees completely overlook

If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income.

One easy trick could pay you as much as $23,760 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Join Stock Advisor to learn more about these strategies.

View the "Social Security secrets" »

The Motley Fool has a disclosure policy.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Today’s Market Recap: Dow Gains Over 1%, SpaceX Surges More Than 8% After Hours, Supermicro Jumps Over 14%, Netflix Falls More Than 5%Tracking the Market TrendTradingKey - As of the close on October 20 Eastern Time, the Dow Jones Industrial Average rose 1.02% to 52,495.88, the Nasdaq Composite slipped 0.02% to 26,424.82, and the S&P
Author  TradingKey
Oct 21, Wed
Tracking the Market TrendTradingKey - As of the close on October 20 Eastern Time, the Dow Jones Industrial Average rose 1.02% to 52,495.88, the Nasdaq Composite slipped 0.02% to 26,424.82, and the S&P
placeholder
3 Stocks That Can Benefit From SpaceX’s Surprise Q3 EarningsSpaceX’s latest earnings have given Wall Street a reason to revisit AI hardware stocks. Elon Musk’s company is preparing to spend billions more on computing infrastructure, and three US-listed stocks
Author  Beincrypto
Oct 21, Wed
SpaceX’s latest earnings have given Wall Street a reason to revisit AI hardware stocks. Elon Musk’s company is preparing to spend billions more on computing infrastructure, and three US-listed stocks
placeholder
Can Bitcoin Price Hold Above $80,000 This Week?Bitcoin has recovered to around $82,500 after briefly falling below $80,000 last week.But the rebound faces a major test on Wednesday, when fresh US oil inventory data could revive the inflation fears
Author  Beincrypto
Oct 20, Tue
Bitcoin has recovered to around $82,500 after briefly falling below $80,000 last week.But the rebound faces a major test on Wednesday, when fresh US oil inventory data could revive the inflation fears
placeholder
Tesla Q3 Earnings Preview: Can Auto Margins Stabilize? Wall Street’s Highest Price Target at $550TradingKey - Tesla (TSLA) will report its third-quarter 2026 financial results after the U.S. stock market close on October 21, Eastern Time, and host an earnings conference call at 17:30 that day. Th
Author  TradingKey
Oct 20, Tue
TradingKey - Tesla (TSLA) will report its third-quarter 2026 financial results after the U.S. stock market close on October 21, Eastern Time, and host an earnings conference call at 17:30 that day. Th
placeholder
SpaceX Stock Price Forecast: Rebounds to $148 Ahead of Earnings, $152–$160 Becomes Key Resistance ZoneTradingKey - As of the close on Monday (October 19) Eastern Time, SpaceX (SPCX) closed at $147.96, up 1.32% on the day, reaching an intraday high of $151.01. The closing price was noticeably under pre
Author  TradingKey
Oct 20, Tue
TradingKey - As of the close on Monday (October 19) Eastern Time, SpaceX (SPCX) closed at $147.96, up 1.32% on the day, reaching an intraday high of $151.01. The closing price was noticeably under pre
goTop
quote