Social Security is 90 years old. Its commissioner, Frank J. Bisignano, recently commemorated that, saying: "Over the decades, Social Security has evolved to meet the changing needs of the country. What began as a retirement program expanded to include survivor, family, and disability benefits. It became a lifeline for widows, children who lost a parent, workers with disabilities, and millions more."

You may be wondering how much you can expect to receive from Social Security when you're retired, and it's important to know, so that you can plan your retirement accordingly. You'll get the most accurate answer, based on your personal earnings history, by setting up a my Social Security account at the Social Security Administration (SSA) website.

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Here are the average monthly benefits for recipients of various ages:

Age

Average benefit, all

Average benefit, men

Average benefit, women

62

$1,342

$1,486

$1,207

65

$1,611

$1,785

$1,453

67

$1,930

$2,143

$1,719

70

$2,148

$2,390

$1,909

72

$2,117

$2,343

$1,894

75

$2,065

$2,278

$1,857

80

$2,006

$2,206

$1,816

85

$1,944

$2,120

$1,788

Data source: Social Security Administration.

You'll note that women tend to receive smaller benefits. That's because women have long been paid less than men -- and also because many women are out of the workforce for some years, caring for kids and/or parents.

Fortunately, there are multiple ways to increase your Social Security benefits, such as delaying claiming them. When you first claim your benefits matters a lot: Those claiming early will get smaller checks (but more of them!), and vice versa. According to several studies, most (but not all!) people will get the most in total benefits by delaying claiming benefits until age 70 if they can.

Delaying retirement is a powerful financial move for other reasons, too, beyond Social Security. For example, you'll be able to sock away more money, and your nest egg won't have to support you for as long.