The $1,424.40 Social Security Benefit Some Retirees Get Stuck With
Filing for Social Security at the wrong age can permanently shrink your monthly checks in ways most retirees never fully recover from. Before you sign up, there are five questions worth asking yourself honestly.
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There’s a reason workers are warned to save for retirement. Having to live on Social Security alone could mean struggling financially for many years.
But some people get less Social Security than others. And if your benefit is reduced due to filing early, you may find that you truly can’t get by without income to supplement your Social Security checks.
Why some Social Security recipients today get very small checks
The average Social Security benefit today is $2,086 per month. But as of December 2025, some seniors were only getting an average of $1,424.40.
People in that boat, however, all fell into the same category — they claimed Social Security at age 62 instead of waiting. And that explains the lower number.
The Social Security benefit you’re eligible for in retirement each month is based on your personal wage history. The higher your career earnings are, up to a certain point, the more money your benefits should be worth.
But beyond that formula, your filing age helps determine how much Social Security you get to collect. If you file at full retirement age (FRA), which is 67 for anyone born in 1960 or later, you get the monthly benefit you’re entitled to based on your wage history without a reduction.
You can also delay your claim past FRA for larger checks. Each year you wait until your 70th birthday gives you an 8% boost.
On the flipside, filing for Social Security early reduces your benefits. The earliest age to sign up is 62. But if you file at 62 with an FRA of 67, you’re looking at a reduction of roughly 30% — for life. That explains why some seniors only get to collect $1,424.40 per month in Social Security while others receive significantly more.
Questions to ask before filing early
Claiming Social Security early isn’t always a bad decision. If you need money right away, it may be cheaper than borrowing. And if you don’t expect to live a long life, an early claim could put more Social Security in your pocket in total despite a reduction in benefits on a monthly basis.
But if you’re thinking of filing for Social Security at 62, ask yourself these questions first:
- Can I afford reduced benefits based on my estimated monthly bills?
- Do I have savings or other income to supplement my monthly checks?
- Is my health in good shape, and am I likely to live a longer life?
- Do I have a spouse who may be entitled to survivor benefits if I pass away?
- Do I have lifelong goals that larger monthly benefits could help me achieve?
Remember, even if you claim Social Security at 62, you may not end up with $1,424.40 per month. Your reduced benefit could come in higher or lower, depending on your benefit at FRA.
But it’s important to recognize the hit your monthly checks will take if you file for Social Security at 62, and to make sure an early claim won’t ruin your long-term retirement plans.
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Maurie Backman has more than a decade of experience writing about financial topics, including retirement, investing, Social Security, and real estate. Her work has appeared on sites that include The Motley Fool, USA Today, U.S. News & World Report, and Kiplinger.
Prior to becoming a full-time financial writer, Maurie worked in the financial industry trading distressed debt. She then changed course and spent a few years designing electronic toys. After a stint in content marketing and UX, she shifted back into writing and has since covered everything from the housing market to estate planning to Medicare.
When she's not busy writing, Maurie can be found hiking, walking her dogs, driving her kids to their various sports practices and games, and curling up with a good book. She cooks on occasion and bakes way too often.
