The Social Security Administration first calculates your benefits at your full retirement age (FRA)<\/a>. This is 67 for most workers today. Applying at this age is considered early claiming, which reduces your checks by up to 30%. This can take a substantial bite out of your monthly benefit. <\/p>\n The average Social Security benefit as of December 2024 was about $1,975 per month. If we add the 2.8% Social Security cost-of-living adjustment (COLA)<\/a> for 2026, that bumps the typical check up to about $2,030 per month. But the average 62-year-old claimant only received about $1,342 per month in December 2024, or about $1,380 per month after factoring in the 2026 COLA. <\/p>\n That’s a pretty big difference, and for some, claiming early leads to a smaller lifetime benefit as well, though this isn’t always the case. Those with short life expectancies may come out ahead by claiming at 62. And sometimes, early claiming isn’t always a choice. <\/p>\n How to know how much you’ll get from Social Security at 62 <\/p>\n You can use the average as a rough benchmark to decide whether applying early or retiring soon is the right move for you. But there’s actually a better way to estimate your future Social Security benefit, and it doesn’t require you to do any math. <\/p>\n You can create a free my Social Security account<\/a> for personalized Social Security estimates at every claiming age. This uses government data on your income history and estimates of your future earnings, which you can adjust if desired. <\/p>\n It will show you your benefit at every possible claiming age, so you can see how much you’ll be eligible for at 62 and how waiting a few months or years could increase your benefit. It’s worth checking out before you decide on a claiming age, because once you’ve applied, it’s difficult to undo your decision. <\/p>\n The\u00a0$23,760\u00a0Social Security bonus most retirees completely overlook <\/p>\n If you’re like most Americans, you’re a few years (or more) behind on your retirement savings. But a handful of little-known\u00a0“Social Security secrets”<\/a> could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $23,760 more… each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we’re all after. <\/p>\n Many Americans leave money on the table in retirement. Learn more about these retirement strategies and more, available when you join Stock Advisor. <\/p>\n View the “Social Security secrets” \u00bb<\/a> <\/p>\n The Motley Fool has a disclosure policy<\/a>. <\/p>\n<\/a> Image source: Getty Images. How claiming Social Security at 62 affects your checks <\/p>\n