Since 62 is the minimum age to begin receiving Social Security retirement benefits, it is a major milestone for many Americans.
This implies that anyone born between 1960 and 1970 have either already surpassed that barrier or will soon do so, making them eligible to apply for this monthly payment as new applicants.
According to the Social Security Administration (SSA), any employee who has accrued sufficient credits is eligible to start receiving benefits at age 62.
But if you decide to retire at that point, you will have to accept a permanent decrease in your monthly income.
Even yet, a lot of beneficiaries would rather trigger their check right away rather than wait any longer.
Doubts regarding the precise amount that each person can receive are also developing as a result of the noticeable increase in applications from this generation.
A number of variables, including as prior wages and the precise age at which the benefit is requested, greatly affect the amount.
What is the income of people who choose to retire at age 62?
In 2025, those who qualify and decide to begin receiving Social Security benefits at age 62 can anticipate receiving an average of around $2,710 a month.
However, this amount is not set in stone; depending on their income and contribution history, some beneficiaries receive much less, while others receive somewhat more.
You should be aware that when you retire at age 62, your monthly payments will be permanently reduced.
Compared to the amount you would receive if you waited until age 67, which is the full retirement age for everyone born after 1960, this reduction might be as much as 30%.
Additionally, depending on whether specific yearly limits specified by the SSA are surpassed, earned income may result in a temporary reduction in benefits if the beneficiary chooses to continue working after beginning to receive the check. Many people may be impacted by this in the initial years of collection.
However, people who apply for benefits after the age of 70 may receive a far larger payout.
The maximum payout in 2025 will be $5,108 per month, set aside for people who postpone retirement and have put in at least 35 years of high-paying employment.
What if I’m not sixty-two yet? Can I receive a check from Social Security?
Indeed. Even though age-based retirement is only possible after age 62, there are still ways to get a monthly Social Security payment before then, as long as certain requirements are fulfilled.
For instance, if they satisfy the necessary labor and medical requirements, recipients of Social Security Disability Insurance (SSDI) can start receiving monthly benefits well before the age of 62.
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This assistance is meant for those who are unable to continue working regularly due to health issues.
Spouses, ex-spouses, and widows or widowers of workers who have made contributions to the system are also eligible for monthly payments.
Benefits may start before age 62 in certain circumstances, though the exact amount will rely on the applicant’s age and circumstances.
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Therefore, you might be able to begin your retirement if you were born between 1960 and 1970 and you are already 62 years old.
If you belong to one of the aforementioned groups, you can still receive a monthly check even if you haven’t attained that age yet.
To examine all of your options, it is better to check your status directly on my Social Security.
