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Social Security: How much is the average check if you’re 62?

Social Security benefits are collected by millions each month, and you can retire anytime after turning 62. But is that smart?

social security card with cash and check representing social security benefits

Many Americans retire in hopes of living a relaxing life, but that isn’t always the case depending on what age you choose to collect benefits.

Waiting until you hit your full retirement age will get you your full benefit.

The age for FRA continues to rise but is not over 67.

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What is the average Social Security benefit for retired workers each month?

This is happening because of longer life expectancy.

Anyone born after 1960 must wait until they’re 67 for full benefits.

People can choose to retire as early as age 62, but they will see a decrease in benefits.

In the same way, people can wait longer to claim benefits and see an increase up to the age of 70.


Retiring and collecting Social Security before FRA

If you choose to retire at age 62, you could see your benefits decrease by around one third permanently.

The retirement age until 1983 was 65, which is why some get confused about when their FRA really is.

Congress passed a law in 1983 when inflation increased and funds were at risk of being depleted.

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This also happened because people were living longer.

The increase happened over time instead of instantly.

How much are Social Security payments today?

Different factors go into how much your Social Security benefits will be.

One of the biggest is how much you made over a span of 35 working years.

The average is taken to determine your benefits, so if you only have 33 years, two years of $0 will bring down your benefits.


The average check for retiring at your full retirement age is $1,657.

The maximum in 2022 has reached over $4,000, but very few see this amount and only get it if they retire at age 70.

The most you would see at age 62 is $2,364 at the max.

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