How much can you earn if you retire at 62 in 2022?

If you retired at 62 in 2022 and worked, your earnings could reduce your Social Security benefits until you hit your Full Retirement Age (FRA), with 2022 limits being around $19,560 (no benefit reduction) and $51,960 (benefits withheld dollar-for-dollar). You can earn any amount without benefit reduction after reaching FRA, but before that, for every $2 earned over the lower limit, $1 in benefits is withheld, with the amount adjusted later, so you can earn substantially while collecting reduced benefits, but higher earnings mean fewer checks until FRA.


How much can I earn while on Social Security if I retire at 62?

At age 62, you can earn up to the annual limit (e.g., $24,480 in 2026) and get full benefits; earning more results in a $1 reduction for every $2 over the limit, but these withheld benefits are restored later, and once you hit your Full Retirement Age (FRA), there's no limit on earnings, and you receive your full Social Security amount. 

How many hours am I allowed to work if I retire at 62?

You can work as many hours as you want at age 62, but your Social Security benefits might be reduced until you reach your Full Retirement Age (FRA), typically 67; after FRA, there are no earnings limits, and you can work full-time without affecting benefits, though high earnings can make benefits taxable. The key factor is your income relative to the annual limit (e.g., ~$23,400 in 2025), not hours, as earnings over the limit reduce benefits dollar-for-dollar before FRA, but this is temporary and recalculated later. 


How much will I make when I retire at 62?

If you retire at age 62, your monthly Social Security benefit will be reduced, averaging around $1,300-$1,500 (as of late 2024/early 2025), but the exact amount depends on your earnings history, with the maximum being around $2,700-$3,000 for top earners in 2026, a roughly 30% cut from your full retirement age (FRA) benefit. To get your precise figure, create a "My Social Security" account on the Social Security Administration website to see personalized estimates for claiming at different ages. 

How to get $3000 a month of Social Security at age 62?

Only workers who consistently earn at or above the Social Security wage base limit for 35 years and strategically delay their benefits can approach this level. Key Requirements to Reach $3,000 Monthly: Maximum earnings history – Earn at or above the wage base limit ($160,200 in 2024) for 35+ years.


Social Security and Work: How Much Can You Make in 2025?



Can I collect Social Security at 62 and still work part time?

Yes, you can draw Social Security at 62 and work part-time, but your benefits will be reduced if your earnings exceed the annual limit for those under full retirement age (FRA). For 2025, if you are under FRA, the limit is $23,400, with $1 deducted for every $2 earned over that. Once you reach your full retirement age (67 for those born in 1960 or later), your earnings no longer affect your benefits, and past reductions are recalculated to increase your monthly payment. 

How much money will I lose if I retire at 62 instead of 67?

If a worker begins receiving benefits before his/her normal (or full) retirement age, the worker will receive a reduced benefit. A worker can choose to retire as early as age 62, but doing so may result in a reduction of as much as 30 percent.

Why is retiring at 62 a good idea?

People retire at 62 for more time to enjoy life, pursue passions, reduce work stress, and spend time with family, often using the earliest eligibility for Social Security to start income, though this comes with reduced monthly benefits; other reasons include health issues or a desire for a simpler life, though financially, delaying benefits (to age 70) can significantly increase lifetime payments.
 


How much do you have to make to get $3,000 a month in Social Security?

To get around $3,000/month in Social Security, you generally need a high earning history, around $100,000-$108,000+ annually over your top 35 years, but waiting to claim until age 70 maximizes this amount, potentially reaching it with lower yearly earnings, say under $70k if you wait long enough, as benefits are based on your highest indexed earnings over 35 years. The exact amount depends heavily on your specific earnings history and the age you start collecting benefits. 

Is $5000 a month a good retirement income?

Yes, $5,000 a month ($60,000/year) is often considered a good, even comfortable, retirement income for many Americans, aligning with average spending and covering basic needs plus some extras in most areas, but it depends heavily on location (high-cost vs. low-cost), lifestyle, and if your mortgage is paid off; it provides a solid base but needs careful budgeting and supplementation with Social Security and savings, say experts at Investopedia and CBS News, Investopedia and CBS News, US News Money, SmartAsset, Towerpoint Wealth. 

What happens if I retire at 62 but continue to work?

If you retire at 62 and keep working, you can collect Social Security, but your benefits will be reduced if your earnings exceed the annual Social Security earnings limit (around $23,400 for 2025) until you reach your Full Retirement Age (FRA), with the SSA automatically recalculating and increasing your benefit later to account for withheld payments and higher earnings. You'll get a larger monthly check starting at your FRA, as the SSA gives you credit for the months benefits were withheld and includes higher earning years, plus your benefits might be subject to income tax depending on your total income. 


What are the biggest mistakes people make when retiring?

5 retirement mistakes to avoid
  • Lacking a life plan. Retirement is a difficult journey to travel without a map. ...
  • Overspending. ...
  • Claiming Social Security too early. ...
  • Being overly conservative with investments. ...
  • Retiring too early.


What does Suze Orman say about taking Social Security at 62?

Orman explained that you can start Social Security as soon as 62, but that you shouldn't. She said: "Don't settle for a reduced Social Security benefit. If you are in good health, the best financial move you can make is to not claim Social Security before you reach your full retirement age."

What is one of the biggest mistakes people make regarding Social Security?

Claiming Benefits Too Early

One of the biggest mistakes people make is claiming Social Security benefits as soon as they're eligible, which is at age 62. While getting money sooner can be tempting, claiming early has a significant downside: your monthly benefit will be reduced.


Is Social Security taxed at age 62?

Yes, Social Security benefits can be taxed at age 62, but it depends on your total income, not your age; if your combined income (including half your benefits, wages, interest, and other taxable sources) exceeds IRS thresholds, up to 85% of your benefits may be subject to federal tax, and some states also tax benefits. If Social Security is your only income, you likely won't pay taxes on it, but if you have other retirement funds (like a 401(k) or IRA) or work part-time, taxes can apply. 

How many Americans have $500,000 in retirement savings?

Only a small percentage of Americans have $500,000 or more in retirement savings, with recent data (late 2025/early 2026) suggesting around 7% to 9% of households have reached this milestone, though this varies by source and can be skewed by high-income earners or home equity. For instance, one study showed only 4% of all households had $500k-$999k, and 3.1% had $1M+. 

How much money can you make at 62 and still draw Social Security?

At age 62, you can earn up to the annual limit (e.g., $24,480 in 2026) and get full benefits; earning more results in a $1 reduction for every $2 over the limit, but these withheld benefits are restored later, and once you hit your Full Retirement Age (FRA), there's no limit on earnings, and you receive your full Social Security amount. 


What are the changes for Social Security in 2025?

The COLA was 2.5 percent in 2025. Nearly 71 million Social Security beneficiaries will see a 2.8 percent COLA beginning in January 2026. Increased payments to nearly 7.5 million people receiving SSI will begin on December 31, 2025. (Note: Some people receive both Social Security benefits and SSI).

What is the smartest age to retire?

There's no single "smartest" age, but 65-67 is a common sweet spot for maximizing benefits (full Social Security, Medicare eligibility), while many Americans think 63 is ideal but often retire around 62-64 due to health or finances. The truly best age depends on your financial security, health, lifestyle goals, and desire to work, with some experts suggesting delaying Social Security to 70 for maximum payout, making late 60s a financially optimal time to retire, even if you start earlier. 

Do I have to do anything with Medicare when I turn 62?

Medicare enrollment in your 60s

If you begin receiving Social Security retirement benefits between age 62 and up to 4 months before turning 65, you will be automatically enrolled in Medicare Part A and Part B when you turn 65.


What is an average Social Security check at age 62?

The average Social Security check for someone retiring at age 62 is around $1,300 - $1,340 per month, but this is significantly reduced from your full retirement age (FRA) benefit, which can be up to 30% less. For example, data from late 2024 showed averages around $1,342, while some 2025 estimates put it near $1,298-$1,300, but this varies based on individual earnings and when you claim, as delaying until FRA (around 67) or age 70 yields much higher payments. 

What are common retirement mistakes?

Among the biggest mistakes retirees make is not adjusting their expenses to their new budget in retirement. Those who have worked for many years need to realize that dining out, clothing and entertainment expenses should be reduced because they are no longer earning the same amount of money as they were while working.