The SSA applies a progressive formula to your AIME to produce your Primary Insurance Amount (PIA), which is the monthly benefit you receive if you claim at exactly your Full Retirement Age. Because the formula is progressive, lower lifetime earners receive a higher percentage replacement than higher earners. If you have fewer than 35 years of earnings on record, the SSA fills the remaining years with zeros, which reduces your average and lowers your benefit. For 2026, the average monthly retirement benefit is approximately $2,081, while the maximum for someone who worked at or above the wage base their entire career and delayed claiming to age 70 is around $5,181 per month. Reviewing your earnings record annually at SSA.gov helps ensure accuracy, since errors in your record can directly reduce your benefit.

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What Are Social Security Benefits?

Social Security benefits are monthly federal payments that replace part of your pre-retirement income—usually alongside savings and workplace accounts, not as your only retirement source.

Social Security at 62, 67, and 70: What’s the Difference?

You can claim as early as 62, at Full Retirement Age (67 for most workers today), or as late as 70—and the age you choose permanently shapes your monthly payment.

Social Security at 62 vs. 70: Which Is Better?

Claiming at 62 brings income sooner; waiting until 70 can lock in a benefit up to 77% higher—with break-even often around age 80 to 82.

When Should I Take Social Security?

The best claiming age depends on your health, work status, other income, spousal benefits, and taxes—not a one-size-fits-all rule.

Benefits of Delaying Social Security

Each month you delay past Full Retirement Age up to 70 adds about two-thirds of one percent to your benefit—roughly 8% per year for life.

What Is the Social Security Earnings Limit?

If you claim before Full Retirement Age and keep working, the earnings test can temporarily reduce benefits until you reach FRA.

Will Social Security Run Out in 20 Years?

Trust fund depletion would not end Social Security—ongoing payroll taxes would still fund most benefits, but planning should not rely on benefits alone.

How Do I Find Out My Social Security Benefit Amount?

Create a free my Social Security account at SSA.gov to view earnings history and personalized estimates at ages 62, Full Retirement Age, and 70.

What Is a Social Security Strategy?

A Social Security strategy is a deliberate plan for when and how to claim so you maximize lifetime income—not just filing at the earliest eligible age.

How Does Retiring Early Affect Social Security?

Stopping work before 62 can lower your benefit by adding zero-earnings years and skipping high-earning years that could replace lower ones in your 35-year average.

Social Security and IRA Withdrawals

Traditional IRA withdrawals count toward combined income and can trigger federal tax on up to 85% of your Social Security benefits.

How Is Social Security Calculated?

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