For most Americans, 67 is the full retirement age. So, how much should you expect from Social Security at that age?
As of July 2024, the average retired worker in the United States receives a Social Security benefit of $1,919.40 per month. However, this is the overall average, and there can be big differences between beneficiaries.
For most Americans, the full retirement age for Social Security purposes is 67. This applies to everyone born in 1960 or later.
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According to data in the latest Social Security Statistical Supplement, the average 67-year-old retired worker gets a benefit that is about 1% higher than the overall average. With the latest average in mind, this means that the average monthly benefit for someone who is 67 would be about $1,940.
A few things to keep in mind
It’s important to realize what this number describes. This is not the average benefit of someone who starts collecting Social Security at age 67. This average includes people who have claimed Social Security at age 62, 63, and every other age up to 67.
Early claimers would have their benefits permanently reduced, while someone who waits until 67 won’t. So, the average monthly benefit for someone who applies for Social Security at age 67 is likely significantly higher than $1,940 per month.
Also, your Social Security benefit is highly dependent on not only your claiming age but also how much you earned throughout your career. For someone who retires at age 67 in 2024, the maximum possible benefit is $3,822 per month, nearly $46,000 annually. So, it’s fair to say that some people get far more than the average.