Social Security is a crucial part of retirement planning for many Americans. To receive the maximum benefit, you need to have worked for at least 35 years and earned the maximum taxable amount each year. In 2025, the maximum taxable amount is $176,100.
If you meet this requirement and wait until age 70 to start claiming benefits, you could receive up to $5,108 per month or $61,300 annually. However, not everyone can wait until 70 to start receiving benefits. If you claim at your Full Retirement Age (FRA) of 67, you would receive 100% of your benefit amount, which could be up to $4,018 per month or $48,216 annually.
If you need to start claiming benefits earlier, at age 62, the maximum benefit is reduced to $2,831 per month or $33,972 annually.
Maximizing benefits by delaying claims
This is still higher than the average benefit at 62, which was $1,298.26 per month in 2025.
To qualify for Social Security benefits, you need to have worked for a minimum of 10 years. The Social Security Administration (SSA) will index your earnings, adjust for inflation, and calculate your benefit amount based on your Primary Insurance Amount (PIA). The difference between the average benefit and the maximum benefit can be substantial.
At age 67, the average benefit in February 2025 was $1,981 per month or $23,772 annually, while the maximum benefit was $4,018 per month or $48,216 annually. It’s important to understand how the SSA calculates benefits and how you can influence the size of your checks. Maximizing your Social Security benefits is essential for many seniors who rely on this income during retirement.
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