Social Security is a lifeline for many older adults, keeping around 16 million seniors age 65 and older out of poverty, according to a 2023 report from the Center on Budget and Policy Priorities.

When every dollar matters, it pays to know exactly how much you'll receive in benefits. While everyone's benefit will differ based on factors like the length of your career and your income, here's what the average person collects from Social Security at age 62.

Social Security card with assorted bills.

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The average benefit at 62

Your claiming age will directly affect your monthly benefit amount. Age 62 is the earliest you can file, but it will result in a benefit cut of up to 30% compared to what you'd receive at your full retirement age -- which is between ages 66 and 67, depending on your birth year. Delaying past your full retirement age (up to age 70) will earn you a bonus on top of your full benefit.

The average retired worker receives around $1,342 per month at age 62, according to December 2024 data from the Social Security Administration. That's substantially smaller than the averages at 67 and 70 of $1,930 per month and $2,148 per month, respectively.

Despite the smaller checks, claiming at 62 can be a smart way to get a jumpstart on retirement. While you don't have to file for benefits as soon as you retire, the extra source of income can make earlier retirement more affordable.

There's no right or wrong time to take Social Security, but the age you file will affect your monthly income for the rest of your life. When you know what to expect heading into retirement, it will be easier to choose the best claiming age for your situation.