The average retired worker who is 69 years old and collects Social Security gets about $1,945 per month, according to the latest edition of the Social Security Statistical Supplements. That’s $23,340 per year in retirement income.
However, there are a couple of things to point out. First, this data was before the 2025 Social Security COLA went into effect and increased benefits by 2.5%. So the actual number as I’m writing this is probably about $1,994 per month.
Second, this is the average benefit for people who are 69 years old now, not those who waited until 69 to start collecting benefits. It is a blended average of those who claimed Social Security early, those who waited until full retirement age, and some people who chose to delay Social Security.
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The effects of early or late retirement
The Social Security Statistical Supplement breaks down this data further into those who claimed early and late, so let’s take a look at these.
Of the 2.93 million 69-year-old retired workers who collect Social Security, 1.51 million, or about 51% of them, started collecting benefits before they reached full retirement age. The average person in this group gets $1,670 per month, or $20,040 per year.
On the other hand, only about 384,000, or 13%, of the 69-year-old Social Security recipients have delayed retirement credit, which means they waited until after full retirement age to start collecting benefits. But the average person in this group receives $2,576 per month, or $30,912 per year.
Of course, there are some valid reasons for claiming Social Security early. But it’s important to realize that waiting to start collecting your benefits can make a big difference when it comes to your inflation-protected income in retirement.
