Planning for retirement comes with a lot of questions, and one of the biggest is how much Social Security you’ll actually receive. For many Americans, this monthly check is a primary income source in their golden years. While nearly everyone qualifies for some form of benefit, the exact amount depends heavily on when you decide to start claiming it. That decision can lead to a difference of thousands of dollars each month—making timing a critical factor.
Social Security benefits are available as early as age 62, but choosing to claim that early can result in a significantly reduced amount. On the other hand, delaying until age 70 can give you a much larger monthly payment. This eight-year window—often referred to as the “8-Year Rule”—can shape your entire retirement budget. In 2025, someone claiming at 62 may receive up to $2,831, while someone who waits until 70 could collect as much as $5,108 per month.
However, deciding when to file isn’t just about choosing an age—it’s also about how you’ll manage financially in the meantime and how long you expect to live. You also need to consider your lifetime earnings and whether they meet the maximum taxable income threshold, which plays a role in determining your benefit amount. Meanwhile, the Social Security Administration has faced recent criticism for staffing shortages and reduced transparency, which can make accessing services more difficult when making these big decisions.
How to Get $2,831 or Even $5,108 a Month from Social Security
For most Americans, Social Security is more than just a government benefit—it’s the foundation of their retirement income. According to the Transamerica Center for Retirement Studies, about 91% of retirees expect to depend on these monthly payments. But what many people don’t realize is that your monthly check isn’t fixed. In fact, the amount you receive can vary by thousands of dollars depending on when you decide to start taking your benefits.
The Social Security program gives you a window of opportunity between the ages of 62 and 70 to decide when to begin collecting your payments. This period, often called the “8-Year Rule,” is more than just a timeline—it’s a financial strategy. Choosing to claim early at age 62 might seem appealing, especially if you want to retire as soon as possible. However, this decision comes with a catch: your monthly benefit will be permanently reduced. In 2025, someone claiming at 62 can expect a maximum monthly check of $2,831—about 30% less than they would get by waiting until their full retirement age.
On the other hand, if you hold off until 70, your benefit increases by about 8% for every year you delay past your full retirement age. That means your monthly income can grow by up to 132% compared to claiming early. So instead of $2,831, you could be receiving a maximum of $5,108 a month in 2025. Even though this is a big jump, most people don’t wait—less than 10% delay until 70, while nearly 30% start at 62, according to a 2022 Congressional report.
So, what’s the best move? It depends on your health, your financial situation, and how long you expect to live. Preston Cherry, a financial advisor, says it best: taking Social Security early gives you more years of income but smaller monthly payments. Waiting until 70 gives you bigger checks, but you’ll need a plan to manage your income until then. That “bridge” between stopping work and starting Social Security is where careful planning becomes crucial.
Another key factor in the amount you’ll receive is your lifetime earnings. Social Security calculates your benefit based on your 35 highest-earning years, adjusted for inflation. To qualify for the maximum benefit, you’d need to consistently earn at least the maximum taxable wage each year. For 2025, that number is $176,100.
Even though these decisions are important, getting help from the Social Security Administration (SSA) has become more difficult. Over the past several years, the SSA has faced staffing cuts and rising complaints about long wait times for phone, email, and in-person support. During Donald Trump’s presidency, staffing fell to its lowest levels in a decade, with more than 10% of employees cut. On top of that, the agency stopped sharing many performance metrics, making it harder for the public to understand how well the system is working.
If you’re approaching retirement, now’s the time to take a serious look at your options. Understanding how timing, income, and long-term planning affect your Social Security benefit can help you make a smarter decision—one that could add thousands to your monthly income for the rest of your life.
