Social Security plays a crucial role in the financial well-being of millions of Americans. In 2025, the maximum monthly benefit for those who reached age 70 and earned the highest wages throughout their careers is $5,108. However, most Social Security recipients receive a much smaller amount.
The average monthly benefit at the end of 2024 was $1,925, with those aged 69 receiving a slightly higher average of $1,945. Several factors influence the amount of your monthly Social Security check. Your benefit is calculated based on your 35 highest-earning years, with each year’s wages adjusted for inflation.
The age at which you claim benefits also significantly impacts your monthly payment.
Maximizing your monthly Social Security
Claiming before your full retirement age, which, depending on your birth year, ranges from 65 to 67, reduces your benefits.
Delaying past your full retirement age, up to age 70, increases your monthly check by 2/3 of 1% for each month you wait. We’ve seen a trend away from applying at 62, and educating people about the program has helped,” says Joel Eskovitz, senior director of Social Security and savings at the AARP Public Policy Institute. “There will always be people who apply at 62, either from sickness or lack of job opportunities, but it does seem like there’s been a shift away from this.”
Once you receive benefits, your payment amount is set for life, subject to annual Cost-of-Living Adjustments (COLA).
These adjustments can boost your monthly checks, although the increase rate varies yearly based on inflation trends. To maximize your Social Security benefits, consider strategies such as delaying your claim until age 70, working to increase your lifetime earnings, and ensuring the Social Security Administration has accurate wage data on record for you. While the maximum monthly benefit of $5,108 in 2025 is not typical, understanding the factors that influence your Social Security income can help you make informed decisions and plan effectively for your retirement years.
Image Credits: Photo by Alexander Mils on Unsplash
