# Social Security Benefits at 62 vs 70

> Your Social Security benefit grows by 5-8% yearly if you wait until 70 to claim.
- Title: Social Security Benefits at 62 vs 70 · The Motley Fool
- Summary: Your Social Security benefit grows by 5-8% yearly if you wait until 70 to claim. Waiting until age 70 increases Social Security benefits by up to $2,589…
- Keywords: social security, retirement, federal benefits, social security benefits, retirement age, social security administration, finance, money, Social, Security, Benefits, The Motley Fool
- Source: The Motley Fool — https://fool.com/retirement/2026/10/16/heres-what-your-social-security-benefit-would-be-a
- Author: Kailey Hagen, CFP®
- Published: 2026-10-16T11:00:00+00:00
- Read time: 1 min
- Topics: social security, retirement, federal benefits, social security benefits, retirement age, social security administration, finance, money
## Average Social Security Benefit
The average Social Security benefit is $2,088 per month as of August 2026.
## Early Claiming Impact
Claiming at 62 reduces your benefit to $1,462 monthly if you qualify for the average $2,088 check at 67.
## Late Claiming Impact
Delaying until 70 increases your benefit to $2,589 monthly for the same average $2,088 check at 67.
## Benefit Growth Rates
Benefits grow by 5.00% per year from 62 to 64, 6.67% from 64 to 67, and 8.00% from 67 to 70.
## Key takeaway

Waiting until age 70 increases Social Security benefits by up to $2,589 monthly versus $1,462 at 62.