Retirement planning is one of the most crucial aspects of financial security, and for millions of Americans, Social Security benefits play a significant role in that plan. If you are approaching the full retirement age of 67, you may be wondering how much you can expect to receive each month.
How Much Does the Average 67-Year-Old Get in Social Security?
According to the most recent Social Security Statistical Supplement, the average monthly Social Security benefit for a 67-year-old retired worker is $1,883.50, or about $22,602 per year.
However, this figure is slightly lower than the overall average benefit of $1,905.31 for all retired workers. The reason? The overall average includes individuals who claimed Social Security benefits at different ages.
Some started as early as 62, while others waited until 70 to maximize their payouts. Since the full retirement age varies between 66 and 67, the group of retirees currently at age 67 largely consists of those who claim their benefits on time rather than delaying them.
What If You Didn’t Claim Benefits Early?
If you waited until full retirement age and did not claim Social Security benefits early, your monthly check would be higher. On average, retirees who waited to claim until they were 67 receive $2,060.48 per month or about $24,726 per year.
Moreover, these figures do not yet reflect the recent 2.5% cost-of-living adjustment (COLA) that took effect in 2025. Adjusting for COLA, the actual monthly benefit for a 67-year-old retired worker in 2025 is estimated to be around $1,931 per month, providing a small but important increase in income.
Why Delaying Social Security Benefits Can Be a Smart Move
While many retirees start claiming Social Security as soon as they hit full retirement age, delaying benefits beyond 67 can significantly increase your monthly payouts. The Social Security Administration offers an 8% increase in benefits for each year you delay past full retirement age up to age 70. This means:
- At 68, your monthly benefit would be 8% higher.
- At 69, it would be 16% higher.
- At 70, it would be 24% higher.
This increase in benefits can significantly increase your retirement income, especially if you expect to live a long and healthy life.
The Overlooked Social Security Bonus Worth Thousands
Many retirees are unaware of the strategies available to maximize their Social Security benefits. For example, spousal benefits, survivor benefits, and delayed retirement credits can provide additional income opportunities.
One overlooked strategy is that certain filing decisions could result in an additional $22,924 per year in Social Security benefits. Exploring all options, such as delaying benefits or coordinating spousal benefits, can make a huge difference in your overall retirement income.
Key Takeaways for Future Retirees
- The average 67-year-old retired worker receives $1,883.50 per month, or about $22,602 per year, though the amount is slightly lower than the overall average for retirees.
- If you did not claim benefits early, your monthly check would be around $2,060.48 or about $24,726 per year.
- With the 2025 cost-of-living adjustment (COLA), the estimated average Social Security benefit for a 67-year-old is about $1,931 per month.
- Delaying Social Security benefits beyond 67 can increase your payments by 8% per year, with a maximum increase of 24% if you wait until 70.
- Maximizing Social Security benefits through smart claiming strategies can add thousands of dollars to your retirement income each year.
Final Thoughts
Social Security is an essential source of income for retirees, but understanding when and how to claim your benefits can make a major difference in your financial security. Whether you are approaching 67 or planning for the future, knowing these key details can help you make an informed decision that best suits your retirement goals.
Disclaimer: This article has been meticulously fact-checked by our team to ensure accuracy and uphold transparency. We strive to deliver trustworthy and dependable content to our readers.
