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For every year less of 35 worked, the SSA will average a $0 into your calculation. If you believe you'll need your Social Security check to make ends meet during retirement, you'll want to work at ...
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.
The earliest you can claim Social Security benefits is 62, but doing so could reduce your monthly benefit by up to 30% (for those whose full retirement age is 67). That said, many people would ...
As shown above, the average Social Security payout generally increases with age, such that the average 70-year-old retiree gets about $757 per month more than the average 62-year-old retiree.
This Is the Average Social Security Benefit for Age 62. Selena Maranjian, The Motley Fool ... as of the end of last year: Age. Average Benefit, All. Average Benefit, Men. Average Benefit, Women. 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 ...
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 ...
Beneficiaries have received cost-of-living adjustments, or COLAs, since then, and if we apply them, the average benefit as of 2024 for a 62 year old is likely to be about $1,316.