Social Security Income (SSI) is a key part of retirement planning for most Americans, but many people approaching retirement don’t know how much they’ll receive. It’s often not enough to maintain their lifestyle — the average Social Security check replaces less than half of pre-retirement income. Unless you’re prepared to make significant cuts to your spending, you’ll need to rely on savings and investments to fill the gap.

Read on to learn about the average social security benefit, key factors determining how much you receive, and strategies for building a stronger retirement income plan.

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What is the average Social Security check?

The U.S. government provides monthly Social Security checks to retirees and eligible recipients, with amounts based on inflation-adjusted lifetime earnings. Your benefit depends on when you begin collecting: The longer you delay, the larger your monthly check. For example, your average Social Security check at age 66 will be less than your average Social Security Check at 70.

According to the Social Security Administration (SSA), the average Social Security check across recipients receiving Social Security Benefits in June 2025 was $1,861, and for retired workers specifically, it was $2,005. These amounts fall below what most people need to maintain their lifestyle in retirement. That’s why many financial advisors and retirement planners recommend building additional income streams through stable, long-term investments such as CDs, annuities, and bonds.

Average Social Security payment amounts by age

The earlier you begin collecting Social Security, the smaller your payments. That’s because the SSA must make payments over a longer period. Most Americans are eligible to receive payments at 62, but you have to begin drawing payments at 70 if you haven’t already.

These are the estimated average Social Security benefits per month for retired workers in 2025, based on claiming age:

• Early retirement — aged 62: $1,362
• Full retirement — aged 67: $1,930
• Delayed retirement — aged 70: $2,148

It’s important to remember that these figures are national averages. Your actual benefit will depend on your earnings history and how much you paid into Social Security throughout your working life. 

Average Social Security check by type

While retirees make up the largest group of Social Security recipients, other groups, including disabled individuals, spouses, and survivors, may also receive Social Security benefits. Each group received different average amounts based on eligibility criteria and benefit formulas.

Retired workers

Retirees receive monthly checks based on their lifetime earnings. Most people qualify after working and paying into Social Security for at least 10 years. 

Disabled individuals

Individuals who can’t work due to a qualifying disability are entitled to Social Security. In 2025, the average disbursement for disabled workers is $1,537. 

Spouses and survivors

Spouses may qualify for Social Security income based on their partner’s work record, even if they didn’t work enough to be eligible themselves. Survivor benefits may also be available to widows, widowers, and children. However, total benefits paid to a family are subject to the family maximum, which limits how much all eligible members can receive based on one worker’s record.

Factors that impact how much Social Security pays you

Your Social Security benefit isn’t a fixed amount — it depends on several personal and financial factors. Here are the main elements that determine how much you’ll receive. 

Lifetime earnings record (indexed for inflation)

The SSA calculates your benefit based on your Average Indexed Monthly Earnings (AIME), which is the average of your highest 35 years of earnings, adjusted for inflation. It then applies a formula to your AIME to determine your monthly payment amount. 

Age at which you start claiming benefits

You can start receiving payments as early as age 62, but this will result in lower payments. Many individuals retire in their early 60s but delay payments until they’re 70 to maximize the monthly amount. Some early retirees choose to delay claiming Social Security and use other sources to bridge the gap, such as an income annuity. This converts your funds into a predictable stream of monthly payments, similar to a personal pension.

Cost-of-living adjustments (COLA)

Social Security benefits are adjusted annually to reflect inflation. However, these increases may not keep pace with the rising cost of living, which is why many retirees supplement their income.

Spousal or survivor benefits

If you’re married or widowed, you may be eligible to receive benefits based on your spouse’s work history. This can increase your total monthly income, particularly if your own earnings record is lower. 

Disability status 

Social Security Disability Insurance (SSDI) uses different eligibility criteria and benefit formulas than retirement benefits, taking into account the type and severity of disability. In 2025, the average monthly SSDI payment was $1,537 — lower than the average for retired workers. 

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Why Social Security alone isn’t enough for retirement

Social Security is not designed to cover all of your retirement expenses. According to the SSA, benefits intend to replace about 40% of your pre-retirement income, leaving a significant gap you’ll need to fill from other sources. 

That gap is even more pressing today. Retirees face rising costs in nearly every area, including healthcare, housing, and everyday expenses like groceries. Even with a pared-down lifestyle, SSI is unlikely to keep up with your financial needs over the course of retirement. Relying on it as your sole source of income exposes you to significant risk, especially in the face of economic volatility or unexpected expenses. 

To build a secure future, it’s essential to create a diversified retirement strategy. This might include personal savings, various types of annuities, and tax-advantaged retirement accounts like IRAs. The earlier you start planning for retirement, the more flexibility and peace of mind you’ll have when the time arrives. 

How Gainbridge can complement your Social Security income

Gainbridge’s fixed annuities are designed to provide a guaranteed monthly income, supplementing your Social Security benefits to give you added stability. With no hidden fees, a 30-day free look period, and flexibility to withdraw up to 10% of your contract’s value after the first year, our products offer a simple, transparent solution for long-term planning. 

If you want to create predictable income, contact Gainbridge to learn how an annuity can support your retirement goals.

This article is for informational purposes only and not intended as individual investment, tax, or legal advice. Consult with your personal advisor for personal advice.

Annuities issued by Gainbridge Life Insurance Company located in Zionsville, Indiana. Guarantees are based on the financial strength and claims paying ability of the issuing insurance company.