If You Were Born Between 1960 and 1970, Your Social Security Payout is Ready — Here’s What You’ll Get
As millions of Americans approach retirement age, those born between 1960 and 1970 are now entering the critical window where they can apply for their Social Security retirement benefits. Whether you’re 62 and considering early retirement or planning to wait until full retirement age (FRA), understanding how much you’re eligible to receive is essential to planning your financial future.
When Can You Apply for Social Security?
The Social Security Administration (SSA) allows individuals to begin claiming retirement benefits as early as age 62. However, the earlier you apply, the lower your monthly benefit will be.
Those born in:
- 1960 reach full retirement age (FRA) at 67 years old
- 1961 at 67 years and 2 months
- 1962 at 67 years and 4 months, and so on, increasing gradually up to those born in 1970, who will reach FRA around 67 years and 10 months
This means if you were born in 1960 and have turned 65 in 2025, you’re getting closer to FRA and may now be eligible to apply for early retirement, depending on your personal financial situation.
How Your Benefit Amount Is Calculated
Your monthly Social Security benefit is based on your highest 35 years of earnings, adjusted for inflation. The SSA uses a formula to calculate your Primary Insurance Amount (PIA), which is the benefit you’d receive at full retirement age.
The key factors that affect your monthly benefit are:
- Your earnings history
- The age at which you claim
- Any cost-of-living adjustments (COLA) added each year
For example, someone who earned the national average wage each year and claims at full retirement age in 2025 might expect to receive about $2,710 per month, according to SSA estimates.
Estimated Monthly Benefits Based on Claiming Age
Here’s a breakdown of estimated average monthly benefits depending on when you choose to apply:
| Claiming Age | Average Monthly Benefit |
|---|---|
| 62 (early retirement) | $2,038 |
| 67 (full retirement) | $2,710 |
| 70 (maximum delay) | $3,574 |
These amounts are only estimates. High earners who maximized their Social Security taxes every year could receive over $4,800 per month if they delay claiming until age 70.
Should You Claim Early or Wait?
Deciding when to claim Social Security is a personal decision and depends on factors such as:
- Your health and life expectancy
- Other retirement income sources
- Whether you plan to continue working
If you claim early, your benefit will be permanently reduced—by up to 30% if you start at age 62 instead of waiting until your FRA. On the other hand, if you delay beyond FRA, you’ll receive an 8% increase in your benefit per year until age 70.
How to Apply for Social Security
Applying for your Social Security check is easier than ever. You can apply in one of three ways:
- Online at SSA.gov – the fastest and most convenient method
- By phone at 1-800-772-1213
- In person at your local SSA office (appointments recommended)
To apply, you’ll need to provide:
- Your Social Security number
- Proof of age (e.g., birth certificate)
- Work and income history
- Bank information for direct deposit
Will Cost-of-Living Adjustments Increase Your Check?
Yes. Social Security benefits are adjusted annually for inflation through Cost-of-Living Adjustments (COLA). For 2025, analysts project a COLA between 2.6% and 3.0%, depending on inflation trends. This means your benefit could increase even after you begin collecting.
For example, if you start receiving $2,710 in 2025 and a 3% COLA is applied, your benefit in 2026 would increase to approximately $2,791 per month.
Can You Still Work While Receiving Benefits?
Yes, but your benefits may be temporarily reduced if you claim before your full retirement age and earn above the earnings limit, which for 2025 is expected to be around $22,320 annually.
If you’re under FRA and exceed this amount, $1 will be deducted from your benefits for every $2 earned above the limit. Once you reach FRA, the earnings limit no longer applies, and your benefits are recalculated to give you credit for any reductions.
Medicare and Social Security
Turning 65 also makes you eligible for Medicare, which can be coordinated with your Social Security benefits. Many retirees choose to enroll in Medicare Part A (hospital insurance) automatically, and may opt into Part B (medical insurance) and Part D (prescription coverage) depending on their needs.
Note: If you don’t yet receive Social Security but are turning 65, you must sign up for Medicare separately to avoid late penalties.
Final Thoughts
If you were born between 1960 and 1970, now is the time to begin evaluating your Social Security options. The benefit amount you receive will depend on your earnings, when you choose to apply, and any annual COLA increases. Whether you plan to retire early or wait until full retirement age, understanding the system will help you maximize your monthly income and ensure a more comfortable retirement.