The average monthly Social Security retirement benefits for a 62 year old equals $1,341.61 versus $2,148.12 for 70 year olds, according to Social Security Administration (SSA) data.
However, there’s no advantage to waiting until after 70 to claim Social Security benefits. And as it turns out, the average monthly retirement benefits for an 80 year old — $2,006.20 — are actually a little less than for 70 year olds. That’s not because the SSA reduces your benefit amounts as you age, but instead, average benefits reflect when recipients first claim benefits and how much they’ve earned over their careers.
