From 24/7 Wall St. · Maurie Backman · · 1m 10s
How Much Money 65-Year-Olds Lose by Claiming Social Security Early
Claiming Social Security at 65 cuts monthly benefits by 13.33% compared to 67.
In brief
Claiming Social Security at 65 cuts monthly benefits by 13.33% compared to 67. The average 65-year-old loses $409 monthly by claiming Social Security early, reducing lifetime benefits by nearly $5,000 annually. Originally reported by 24/7 Wall St..
Claiming Social Security at 65
Claiming Social Security at 65 feels logical, especially when Medicare kicks in at the same age.
Social Security Benefits at 65 vs 67
The average monthly Social Security benefit for 65-year-olds was $1,607.27 as of the end of 2025.
Full Retirement Age for Social Security
For those born in 1960 or later, full retirement age is 67, the age when benefits are not reduced.
Monthly Benefit Difference
Claiming at 65 reduces monthly benefits by 13.33% compared to 67, a difference of $409 per month.
Medicare and Social Security
Social Security and Medicare are separate programs; Medicare Part B premiums are paid from Social Security benefits.
What Happens Next
Delaying Social Security claims until age 67 increases lifetime benefits by nearly $5,000 annually.
The short version
The average 65-year-old loses $409 monthly by claiming Social Security early, reducing lifetime benefits by nearly $5,000 annually.
