Average Social Security benefit for age 66 reaches $1,740 per month

As of the end of last year, the average monthly Social Security benefit for those aged 66 is $1,740. Men receive an average of $1,936, while women receive $1,553. Benefits vary based on earnings and the age at which individuals claim them. Claiming Social Security early results in smaller monthly payments, while delaying benefits until age 70 increases the amount. Average benefits for women are generally lower due to wage disparities and time spent out of the workforce. Individuals can estimate their future benefits by creating an account on the Social Security Administration's website. Strategies to increase benefits include delaying claims and boosting earnings during their working years.