Although many Americans expect to retire at the age of 65, most either end up
working longer or leaving the workforce ahead of schedule. When it comes down to
it, leaving the working world behind is largely due to your financial situation.
And for many seniors, their Social Security income plays a big role in their
finances.
Understanding what the average 70-year-old receives in Social Security might
shed some light on your own potential senior benefits. Here’s what the data shows.
What is the average Social Security benefit at age 70?
On average, 70-year-old retirees receive a monthly Social Security check of
$2,274.68. For men, it’s slightly higher at an average of $2,529.62 monthly. For
women, the average is slightly lower at $2,024.08 monthly.
Shopping for cheaper auto insurance? Enter your zip code here to get started.
How claiming age impacts your Social Security benefit
When it comes to claiming Social Security, you can claim your benefits as early
as age 62. But if you claim before your full retirement age (FRA), your monthly
benefit amount will be reduced.
On the flip side, if you wait to claim your benefits after your FRA, your
monthly benefit amount will increase. If you want to wait to claim a larger
benefit check, the latest you can wait is age 70.
What is the maximum Social Security benefit?
The amount you’ll receive in Social Security income varies based on your
lifetime earnings and your claiming age. Workers who earned the maximum taxable
income for decades and claim at older ages will likely see higher Social
Security monthly benefits than workers with lower incomes or significant time
out of the workforce.
As of 2026, someone who qualifies for the maximum Social Security benefit amount would earn
$4,152 monthly at their FRA. If the same worker claimed at age 62, their maximum
benefit amount would be $2,969. And if claiming at age 70, the maximum benefit
would be $5,181.
How to estimate your own Social Security benefits
Since the amount you can expect to receive in Social Security income varies
based on your earnings history and claiming age, it’s likely to vary
significantly from person to person. With that, the best way to estimate how
much you might receive in Social Security income is to create a my Social Security
account.
Through this account, you can use tools to see your earnings history and provide
benefit estimates at potential claiming ages.
How to supplement your Social Security income
While Social Security income may offer a meaningful income during your
retirement, it might not be enough to support your entire lifestyle. That’s
normal. But it does mean you’ll likely need to find some other ways to cover
your expenses on top of your Social Security income. Explore some ideas below.
Boost your retirement savings
During your working years, make saving for retirement a priority. If possible,
tuck funds away into tax-advantaged retirement accounts like 401(k)s and IRAs to
grow your funds efficiently over the long term. If your employer offers matching
funds, do your best to at least take advantage of their matching contribution.
For those comfortable investing, consider low-cost index funds as a way to grow
your funds over time.
Retirement News: Almost 80% of Americans fear a retirement age increase — here’s the real reason why
Delay retirement
Of course, working longer might not always be ideal or even feasible. But if
you’re able to work longer, and your retirement nest egg isn’t quite ready to
support you in retirement, then sticking it out for a few more years might set
the stage for a financially stable last act.
When making the choice to stay in the workforce, consider what you plan to do
with the money and how it could help your retirement goals. For example, you
might plan on staying in the workforce for another five years. If possible, you
could choose to tuck away a significant portion of each paycheck to lay the
groundwork for a better retirement.
Work part-time in your golden years
Working full-time into your later years might not be possible or enjoyable. But
it might be possible to work part-time into your golden years. If you like your
current field, finding a part-time role might offer a way to transition into
retirement without leaning too hard on your savings for quite some time.
For example, let’s say you’re a teacher. If you aren’t up for another school
year, you might opt to find a substitute teaching position or tutor children at
the local library to keep an income without the same amount of stress. Or you
might try a part-time job in a new field. The income could make a significant
difference to your retirement experience.
Bottom line
When mapping out a retirement
plan, estimating how much you may have in Social Security income is one
piece of the puzzle. But it’s not the only one. Other factors to consider
include how long you plan on working, your current retirement savings, your
planned retirement expenses, and more.
If you’re not sure how to build out a retirement plan, consider working with a
financial advisor.
FAQs
Is Social Security taxed after age 70?
It can be. Turning 70 brings no tax break, because Social Security is taxed on income, not age. The IRS counts half your benefits plus your other income. Below $25,000 single or $32,000 joint, nothing is taxed. In between, up to 50% is. Above $34,000 single or $44,000 joint, up to 85% of your benefit counts as taxable income. That 85% is a cap on the taxable portion, not a tax rate.
What happens if you wait past age 70 to claim Social Security?
Your benefit stops growing. Delayed retirement credits end at 70, no matter how long you hold off. Social Security also pays no more than six months of retroactive benefits, so months you delay past 70 are likely gone for good. If you’re past 70 and haven’t filed, applying now is generally the better move.
Do Social Security benefits go up every year once you start collecting?
Usually. Social Security applies an annual cost-of-living adjustment, or COLA, to help benefits keep pace with inflation. For 2026, it was 2.8%. COLAs apply no matter what age you claimed, and they’re added to your record starting at 62 even if you haven’t filed yet.
Subscribe Today
Unlock the Best Banking Deals and Bonuses
From high-yield savings accounts to cashback checking and sign-up bonuses, we bring you the best banking offers to grow your money smarter.
Author Details
Sarah Sharkey
Sarah Sharkey has written more than 190 articles for FinanceBuzz, where her goal is to help readers make more informed decisions. She specializes in retirement planning, Social Security, mortgages, insurance, and money management. Popular articles include what advisors wish retirees knew, how Americans’ savings compare by age 65, and how to grow a modest sum into a seven-figure nest egg.
