Social Security Check at 62 vs. 70: How Much Can You Get?

Choosing to start receiving Social Security benefits at age 62 versus waiting until age 70 can significantly impact the amount of monthly income you receive. While claiming early provides more years of smaller payments, delaying benefits leads to larger checks for a shorter period. The decision depends on factors such as life expectancy, financial needs, and other retirement income sources.

Age 62 is the earliest date to begin claiming, resulting in a permanent reduction of around 30% in monthly payments for those born in 1960 or later, compared to the full retirement age (FRA) of 67. Waiting until FRA allows receiving 100% of the retirement benefit, with further increases for each month delayed past FRA, up to 124% by claiming at 70.