Many Americans rely on Social Security as part of their retirement income, and several updates in 2025 will affect most retirees’ monthly benefits. It’s important to stay on top of these updates so that you know what to expect next year. 

Three main factors impact how much Social Security you can expect to receive: claiming age, work history, and income level. 

Knowing how these factors work together can help you maximize your Social Security benefits and plan more accurately for retirement. Let’s explain what you can expect if you claim Social Security at 62, 66, or 70 in 2025.

Maximum Monthly Benefits By Age in 2025

The Social Security Administration (SSA) adjusts annual benefits to account for inflation and general wage increases. Based on these updates for 2025, here are the highest possible benefits by claiming age:

• Age 62: $2,831 per month
• Age 66: $3,795 per month
• Age 70: $5,108 per month

The difference between claiming at 62 and claiming at 70 is major. In fact, those who claim when they’re 70 typically receive double the monthly amount than those who claim at 62. This is because the same amount of money is spread over fewer years, increasing your monthly benefit. 

That said, this doesn’t mean you should jump to claim at 70. Claiming Social Security at age 70 is not necessarily the best option, despite what many experts say. You should consider your health, retirement plans, and financial readiness when determining the best time to retire. There is rarely a one-size-fits-all answer. 

Factors that Influence Your Social Security Benefit

There are three main factors that impact how much you can receive from Social Security. Most people will not receive the maximum amount, as several blocks have to fall perfectly for that to happen. However, knowing these factors can help you maximize your Social Security benefits. 

1. Work History

The Social Security formula bases benefits on your 35 highest-earning years. If you worked fewer than 35 years, zeros will be factored into the calculation, potentially reducing your benefit. If you’re approaching retirement age and have not quite worked 35 years, it often makes sense to stay in the workforce for a few more years to keep those zeros out of your calculation (as they can greatly reduce your monthly benefit). 

2. Lifetime Earnings

Social Security benefits consider your lifetime earnings (based on your 35 highest-earning years) up to a maximum income of $176,100 in 2025. This upper wage limit changes every year with inflation and wage increases, too. 

You’ll need to have earnings at or above this limit for 35 years to receive the maximum benefit. Any increase in income can lead to a higher monthly Social Security benefit, though. 

3. Claiming Age

The factor you have the biggest control over is when you decide to claim Social Security. You’ll receive your full benefits at 66 or 67, depending on your birth year. However, you can start claiming as early as 62 for a permanent benefit reduction. You can also put off claiming until 70 to receive a bump in your monthly benefits. 

That said, we don’t recommend basing when you retire entirely on your Social Security benefits. You should also consider factors like your health and savings. It’s important to have a holistic view, not just wait until 70 to maximize your benefits. 

Strategies for Maximizing Social Security

Based on these factors, there are three main strategies you can use to maximize your Social Security benefits:

• Work 35 Years or More: Ensuring you have the required amount of working years before retirement helps increase your benefits. 
• Aim for Higher Earnings: The more money you make, the higher your Social Security benefit will be (up until the maximum, of course). 
• Consider Delaying Benefits: If you wait until age 70, you’ll receive the largest possible monthly benefit. 

Planning can make a huge difference in your retirement income. We recommend understanding how Social Security works and how your decisions may impact your income in retirement. 

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