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A worker’s PIA reflects the benefit received at full retirement age, however, you can actually start claiming Social Security once you turn 62 years old. But doing so will reduce your benefit .
Say you were on track for the average Social Security benefit of $1,976 monthly in 2025. A 30% cut to benefits would bring that down to $1,383.20 if you got your first payment at 62 when your FRA ...
As of January 2024, the average Social Security benefit comes in at around $1,907 per month, and each retiree's benefit covers around 40% of what they were earning before leaving their jobs ...
Fourteen years into their retirement, Suzanne and Susie Leedy can personally attest that it is possible to retire on Social Security. Suzanne retired from her real estate job in 2010.
Many retirees who plan to work while on Social Security may not realize the impact this could have on their monthly benefits. 54% of Future Retirees Risk Losing Some of Their Social Security ...
That's not intended to be discouraging, but the average monthly Social Security check retirees are receiving this year is just a tad over $1,900, or about $22,800 per year.
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