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For millions of seniors across the country, Social Security is the bedrock of their retirement. After decades of paying into the system, these seniors are finally getting what they were promised: a steady and inflation-hedged stream of monthly payments.
On average, a retired beneficiary receives $2,085.98 a month from the program, according to the Social Security Administration’s (SSA’s) Monthly Statistical Snapshot for July (1). But the actual amount received by beneficiaries has a wide range depending on their age of claim, work history and other factors.
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Two people with identical careers could have monthly checks that are hundreds of dollars apart.
This is why comparing your benefits to those in your age group is the most apples-to-apples benchmark. For those who haven’t claimed benefits yet, seeing the way payments curve across different age groups should give you a powerful tool to carefully plan the timing of your claim.
Here’s the latest data on average benefits by age.
Benefits by age
The SSA publishes an Annual Statistical Supplement (2) that offers granular data on all benefits paid across the system. The latest one measures payments at the end of 2025. Here’s the full breakdown by age, based on that report.
Age group and average monthly benefit
62–64: $1,450.74
65–69: $1,967.07
70–74: $2,225.12
75–79: $2,153.59
80–84: $2,101.73
85–89: $2,018.02
90–94: $1,902.18
The shape of this benefits curve is clear: Payments peak for those in their 70s and are noticeably lower for those younger or older.
For those in their 60s, the reason is straightforward. Claiming your benefits early before Full Retirement Age (FRA) can reduce your monthly benefits by as much as 30%, according to the SSA (3). The data above makes this clear in dollars, with the average monthly payment for someone between the ages of 62 and 64 roughly $774 less than someone between the ages of 70 and 74. That’s potentially a full car loan payment or monthly grocery bill off the table for early claimants.
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Simply put, an early claim can be pretty expensive.
Benefits also gradually drift lower for those in their 80s and 90s, but that’s potentially because these retirees filed their claim decades ago, under different earnings histories and, in many cases, at younger ages. The FRA has been steadily rising since the 1980s, according to the Bipartisan Policy Center (4).
Read More: Millionaires under 43 hold only 32% of their wealth in stocks. Here’s where their money is actually going
What can you do?
It’s likely that many seniors who signed up for early benefits did so because of financial distress or necessity. Not everyone can afford to wait multiple years without a steady stream of passive income.
To put yourself in a better position, it helps to plan early and preferably with the assistance of a financial professional. Advisor.com can help you get matched with a verified expert for free. The platform does the heavy lifting for you, vetting advisors based on track record, client ratios and regulatory background. Plus, their network comprises fiduciaries, who are legally required to act in your best interests.
Just enter a few details about your finances and goals and Advisor.com’s AI-powered matching tool will connect you with a qualified expert best suited for your needs based on your unique financial goals and preferences.
Finding the right advisor isn’t always easy — there’s no one-size-fits-all solution. That’s why Advisor.com lets you set up a free initial consultation, with no obligation to hire, to see if they’re the right fit for you.
For seniors who have already made their claim, an AARP membership could be a great way to manage a tighter budget.
Not only do members receive alerts for any changes to the tax code and benefits system, but they also get access to discounts on almost everything — from prescriptions and dental plans to travel, entertainment and insurance.
AARP members also receive guides that can help you make the most of Social Security, choose the right Medicare plan and uncover other government benefits — potentially saving you thousands.
Sign up with AARP today and get 25% off your first year.
Finally, if you’re worried about Social Security’s modest monthly payments, even after optimizing your strategy, you may need to focus on your personal safety net. Alternative assets like gold could provide a safe haven that is just as robust and resistant to inflation as Social Security.
A gold IRA is one option for building up your retirement fund with an inflation-hedging asset.
Opening a gold IRA with the help of Goldco allows you to invest in gold and other precious metals in physical forms while also providing the significant tax advantages of an IRA.
With a minimum purchase of $10,000, Goldco offers free shipping and access to a library of retirement resources. Plus, the company will match up to 10% of qualified purchases in free silver.
If you’re curious whether this is the right investment to diversify your portfolio, you can download your free gold and silver information guide today.
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Article Sources
We rely only on vetted sources and credible third-party reporting. For details, see our ethics and guidelines.
Social Security Administration (1), (2), (3); Bipartisan Policy Center (4)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
