How Much You Can Expect to Receive

The amount each person receives in Social Security benefits can vary significantly. Several factors influence the size of a monthly payment, including lifetime earnings, the number of years worked, and the age at which benefits are claimed.

To qualify for Social Security retirement benefits, individuals generally need to earn at least 40 credits. Workers can earn up to four credits per year, meaning most people become eligible after about 10 years of employment.

However, eligibility is just the starting point. The actual benefit amount is calculated based on a person’s highest-earning years and when they choose to begin receiving payments.

For example, someone who consistently earned at or near the maximum taxable income level and begins collecting benefits in 2026 could receive approximately $4,152 per month if they claim at full retirement age.

Choosing to claim earlier, at age 62, would reduce that amount to around $2,969 per month. On the other hand, delaying benefits until age 70 could increase monthly payments to as much as $5,181.

While these figures represent the upper end of the spectrum, most retirees receive less. As of late 2025, the average monthly benefit for a retired worker was approximately $2,071.30.

This average highlights the importance of careful financial planning, as Social Security often needs to be supplemented with savings, pensions, or other sources of income.