Getting a handle on the average Social Security check by age can help you fine-tune your retirement. Every month, 51.2 million retired workers receive monthly benefits from the Social Security Administration (SSA), totaling $98.2 billion. In August 2024, the average Social Security monthly check for all retirement beneficiaries was $1,920.48, according to the Social Security Administration's (SSA) Monthly Statistical Snapshot.
Your personal monthly Social Security benefit depends on how much you’ve earned, how long you worked, the age when you claim(ed) your benefit, and your marital status. The complexity of benefits calculations means it can be challenging to determine what your exact Social Security payments might be if you have not yet started to take them. Still, it's possible to produce a reasonable estimate.
The average Social Security check
One way to get an idea of how much your monthly benefits will be if you retire at ages 62, 66/67, and 70 is to look at the average monthly Social Security check in 2024. Why does the average benefit received at these ages matter? Age 62 is the age when you can claim a reduced benefit, age 66/67 is the full retirement age (depending on birth year) and 70 is the age when you can receive the maximum benefit when you delay claiming benefits.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
We can also compare how much retired SSA beneficiaries' checks are by age and whether they began taking benefits at their full retirement age or received more by collecting a delayed retirement credit using data from the SSA Annual Statistical Supplement, 2023.
Maximum benefit if you retire in 2024 by age
By comparing the maximum benefit by age, it is easy to quantify the bump in benefits you receive when you delay collecting benefits until age 70. The difference in 2024 between the maximum benefit for someone who retires early at 62 vs. waiting until 70 is $2,163. (On the table below, that's $4,873 at age 70, less $2,710 at age 62 = $2,163.)
| Age | Maximum possible benefit in 2024 | Adjustments to benefit |
|---|---|---|
| 62 - the youngest possible retirement age | $2,710 | early retirement reduction |
| 66/67 - full retirement age | $3,822. | No early retirement reduction or delayed retirement credit |
| 70 - the age when extra benefits stop accruing | $4,873 | delayed retirement credit |
Average monthly Social Security benefit for ages, 67, 70, 75, 80, 85 and 90 and older
Here are the average monthly benefits amount broken out by age and sex. The second table also shows the average monthly benefits amount broken out by age and sex but includes benefit amounts from delayed retirement credits and a hypothetical amount reflecting the absence of the credit.
If you wait until you hit full retirement age to claim Social Security benefits, you’ll receive 100% of your earned benefits. By waiting to claim your Social Security benefits until age 70 — your monthly Social Security benefit will grow by 8% a year until you are 70. The delayed retirement credit accumulates on a monthly basis.
| Age | Average monthly benefit amount for all retirees | Average monthly benefit for men | Average monthly benefit for women |
|---|---|---|---|
| 67 | $2,052.69 | $2,274.73 | $1,813.45 |
| 70 | $2,029.16 | $2,228.21 | $1,791.95 |
| 75 | $2,086.57 | $2,295.46 | $1,827.00 |
| 80 | $2,137.26 | $2,376.80 | $1,825.20 |
| 85 | $1,987.48 | $2,198.96 | $1,718.02 |
| 90 or older | $1,558.02 | $1,623.88 | $1,511.08 |
| By age and sex | Number of retired workers | Actual average monthly benefit including delayed retirement credit | Hypothetical average monthly benefit without delayed retirement credit |
|---|---|---|---|
| 67 - All retired workers | 199,597 | $2,369.15 | $2,277.28 |
| 67 - Men only | 107,038 | $2,602.77 | $2,503.99 |
| 67 - Women Only | 92,559 | $2,098.98 | $2,015.1 |
| Row 3 - Cell 0 | Row 3 - Cell 1 | Row 3 - Cell 2 | Row 3 - Cell 3 |
| 70 - All retired workers | 573,456 | $2,840.82 | $2,320.65 |
| 70 - Men only | 300,581 | $3,119.66 | $2,564.41 |
| 70 - Women Only | 272,875 | $2,533.67 | $2,052.13 |
| Row 7 - Cell 0 | Row 7 - Cell 1 | Row 7 - Cell 2 | Row 7 - Cell 3 |
| 75 - All retired workers | 343,576 | $2,746.65 | $2,231.7 |
| 75 - Men only | 174,739 | $3,052.35 | $2,495.84 |
| 75 - Women Only | 168,837 | $2,430.25 | $1,958.42 |
| Row 11 - Cell 0 | Row 11 - Cell 1 | Row 11 - Cell 2 | Row 11 - Cell 3 |
| 80 - All retired workers | 113,739 | $2,405.81 | $2,019.26 |
| 80 - Men only | 51,883 | $2,717.08 | $2,310.78 |
| 80 - Women Only | 61,856 | $2,144.73 | $1,774.75 |
| Row 15 - Cell 0 | Row 15 - Cell 1 | Row 15 - Cell 2 | Row 15 - Cell 3 |
| 85 - All retired workers | 44,663 | $1,893.20 | $1,599.37 |
| 85 - Men only | 15,553 | $2,057.03 | $1,799.83 |
| 85 - Women Only | 29,110 | $1,805.67 | $1,492.26 |
| Row 19 - Cell 0 | Row 19 - Cell 1 | Row 19 - Cell 2 | Row 19 - Cell 3 |
| 90 or older - All retired workers | 417,211 | $2,083.25 | $1,897.04 |
| 90 or older - Men only | 205,937 | $2,315.99 | $2,101.47 |
| 90 or older - Women only | 211,274 | $1,856.39 | $1,697.77 |
How to estimate your monthly benefits
One way to estimate your Social Security benefits is to create an account through the SSA's website (or sign in to your existing account) and use their benefits calculator. This online tool helps you account for your earnings history and expected future earnings to estimate your benefits at 62, 67 and 70, allowing you to make an informed choice about when to apply for Social Security benefits. You can also visit a local Social Security office for additional information and assistance.
Tip: I recommend you read How to Estimate Your Social Security Benefits in Six Steps to understand how your benefit amount is determined and learn how to calculate your estimated benefits.
Social Security is just one part of retirement
Once you've estimated your Social Security benefits by age, you'll have a better sense of your retirement income. You can also compare your benefits to others of the same age. Remember, though, that Social Security is just one part of a retirement plan. You should likely supplement your benefits with a 401(k), IRA or other investment.
Related Content
-
Medicare Advantage Denials IncreaseYou might get a denial from a Medicare Advantage provider if you seek prior authorization for certain medical care.
-
Rattled by RMDs? Look No FurtherThe rules for required minimum distributions (RMDs) have changed in recent years, so here's what to know as the end of the year (and a tax deadline) approaches.
