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This Is the Average Social Security Benefit for Age 62

TheMotleyFool

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This Is the Average Social Security Benefit for Age 62: https://g.foolcdn.com/editorial/images/782950/social-security-2022.jpg

I won't keep you in suspense: The average retired worker who collects Social Security receives a monthly benefit of $1,275, according to the latest Social Security Statistical Supplement.

One major caveat is that this is the average benefit as of late 2022, which is the last full year for which we have data broken down by age. 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.

Image source: Getty Images.

Source Fool.com

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