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How much does the average 62-year-old get from Social Security? The average Social Security benefit overall was $1,905.31 per month in 2023. But it's larger today thanks to cost-of-living ...
According to the most recent data released by the Social Security Administration in December 2023, the average benefit among 62-year-old retired workers is just $1,298 per month.
In each of the last 23 years, Gallup has conducted a survey to gauge how reliant retired workers are on the income they receive from Social Security. These polls have found that 80% to 90% of ...
Ages 62, 67, and 70 are key milestones in Social Security. Age 62 is the earliest you can claim benefits, 67 is most people's full retirement age, and 70 is when monthly benefits stop increasing ...
The typical 62-year-old person who collects Social Security receives significantly less than the average retired worker. ... While you can claim Social Security at 62, ...
The following table outlines the lifetime benefit the average 62-year-old worker discussed above could get from Social Security by claiming a $1,298.26 monthly benefit at 62 versus a $1,854.66 at ...
You become eligible for Social Security if you retire at age 62, ... 69 years old: $2,067.12 (116%) 70 or older: $2,209.68 (124%) Andrew Lisa contributed to the reporting for this article.
That discrepancy is magnified when comparing the maximum possible Social Security benefit at ages 62 and 70. ... the maximum possible benefit for the 70-year-old is over $27,000 more per year ...