The Average Social Security Check at 62 vs. 70: Here’s the Monthly Difference in 2026
Written by
G. Brian Davis
Edited by
Zuri Anderson
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You know that waiting longer to take Social Security benefits mean higher monthly payments. But how much higher?
Consider the following numbers before deciding when to tap your own benefits. Also find out how your Social Security check could be higher this year — before it’s too late.
Average Benefit Checks at 62 vs. 70
Every six months, the Social Security Administration (SSA) releases data on the average benefit paid by age.
As of December 2025, the average 62-year-old beneficiary collects $1,424 per month. The average 70-year-old collects $2,275: a 60% improvement over 62-year-olds.
Bear in mind that the average 70-year-old benefit includes recipients who started collecting earlier. The real difference for those who wait is even higher.
How Much More Do You Get by Waiting?
Americans born in 1960 or later reach “full retirement age” for benefits at 67. If they start taking benefits at 62, their benefit gets cut by 30%. And if they kick the bucket before their spouse, the surviving spouse’s benefit gets cut by 35%.
In contrast, Americans who wait until 70 get 24% more than the full retirement benefit.
To illustrate with simple numbers, imagine someone who would collect $2,000 if they took benefits at 67. They’d instead collect $1,400 a month if they start at 62, or $2,480 if they wait until 70. That’s a 77% difference in monthly benefits.
Deciding When To Take Benefits
If you want or have to retire early and can’t afford to do so without Social Security benefits, that takes much of the choice away. But what about workers trying to make a strategic decision about benefits?
“The breakeven point is usually in your early 80s — the longer you live past that point, the more profit you’ll make,” explains Cody Schuiteboer, CEO of Best Interest Financial. “The math is on your side if you wait, but fewer than 10% of retirees wait until 70 for the maximum benefit.”
If you have a shorter life expectancy or health issues, waiting may not make sense.
Financial planner Chad Gammon of Custom Fit Financial points out another logical misstep.
“Beware of assuming you can invest the proceeds starting at age 62 and beat the higher benefits. I’ve seen clients attempt it only to regret their early claiming age,” Gammon noted. Remember that as a retiree, you’ll likely have a more conservative portfolio with lower returns you earned while working.
When in doubt, sit down with a financial advisor to discuss your personal goals and situation. They’ll provide not just expertise but also an unbiased perspective, and help you solve the problem from many angles.
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