Here's the Average Social Security Benefit at Ages 62, 67, and 70

Millions of Americans turn to Social Security as a key part of their retirement income strategy. Perhaps you also dream of getting the maximum amount from the program so you can stretch your retirement dollars further.

Getting the top payout is possible, but it isn't easy. Here are both the average and maximum amounts you can earn at three key ages: 62, full retirement age, and 70.

The average amount at age 62

Most people first become eligible for Social Security at age 62. But if you file for benefits then, your monthly income from the program will be permanently reduced for the rest of your life.

At age 62, the average payout is $1,424.40, according to the most recent data from the Social Security Administration (SSA). The maximum payout is $2,969.

The average amount at age 67

For most workers today, 67 is the full retirement age for Social Security purposes. If you claim at this age, the average payout is $2,016.48. The maximum payout is $4,152.

That is a substantial bump from what you get at age 62. For some people, it still makes sense to claim at an earlier age. But for many others, waiting until at least full retirement age can pay off in a big way.

The maximum amount at age 70

If you delay filing for benefits past your full retirement age, your monthly benefit will continue to grow. This is true right up to the age of 70.

Waiting until 70 nets you an average of $2,274.68. You can also earn a maximum of $5,181 in monthly benefits.

Make sure you file no later than 70, however. There is no additional financial benefit to delaying beyond that point.

How to get the maximum payout from Social Security

Yes, it is possible to earn the maximum Social Security benefit in 2026. But for the vast majority of Americans, it's also an unrealistic goal.

To qualify for the maximum payout, you would need to hit the Social Security maximum taxable earnings for exactly 35 years, according to the Social Security Administration.

For most people, that is simply not going to happen. The taxable maximum in 2026 is $184,500, and the amount rises every year. To get the ultimate maximum possible check of $5,181, you would also have to delay taking benefits until age 70. Only around 6% of workers earn that type of money in any given year.

Aiming to earn the maximum amount from Social Security is less of a dream and more of an outright fantasy for most workers.

The hidden perk of waiting to file

Even if you cannot earn the maximum from Social Security, it still helps to earn as much as possible. In fact, earning more money during your working lifetime and waiting as long as possible to claim your benefit offers an important but often overlooked perk.

Each year, the SSA weighs whether to give Social Security beneficiaries a cost-of-living adjustment, or COLA. In most years, the agency does indeed grant retirees this bump in pay.

The larger your Social Security benefit is when you initially file for benefits, the more this COLA will benefit you as the years roll on. To illustrate, let's look at the average benefits of those who claim at two ages: 62 and 70.

In 2026, the COLA was 2.8%. That amounts to a bump of $39.88 on the average benefit at age 62 and $63.69 on the average benefit at age 70.

As the years roll on and COLAs are implemented during most years, the gap between those who claim early and those who claim late will continue to widen.

Despite the advantages of waiting, few people do it

There can be good reasons to take Social Security early. If you simply need the income, you may not have any choice but to file for benefits right away. Filing early can also make sense for those who have a terminal illness or another reason to suspect they won't live long.

But for many others, there can be a substantial financial benefit to waiting to file. Despite that truth, relatively few people delay their enrollment. More than 20% of seniors file at age 62, while less than 10% wait all the way to age 70.

Bottom line

Regardless of whether you file for benefits early or late, it is important to understand that Social Security was never intended to be a retiree's sole source of income.

So, it is important to build real wealth in the years before you retire. Whether you invest in a 401(k) plan or develop an ongoing side hustle, make sure you put money away during your working years so you can turn to that cash once your golden years begin.

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