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As of the latest data (December 2023), the average 70-year-old retired worker receives a Social Security benefit of $2,037.54 per month, or about $24,450 per year.
Data source: Social Security Administration. Collecting benefits at 62, 65, and 70 comes with well-defined advantages and drawbacks. Within the traditional claiming range of 62 through 70, every ...
The average monthly Social Security retirement age for those aged 70 at the end of 2023 was about $2,038, or close to $24,500 annually. That's clearly better than $1,919, but not by a lot ...
70. $139,140. $278,280. $306,108. Calculations by author. The break-even age between 62 and 70 is just after age 80. Before then, you would receive more from Social Security by claiming at 62 ...
Say you're entitled to $2,000 a month in Social Security at age 67. If you file for benefits at 62, you'll get $1,400 a month instead. Hold off until age 70, and your monthly benefit is $2,480. If ...
62 versus 70 explained. As of February 2023, the average Social Security retirement benefit was $1,782 per month, or $21,384 per year. But the numbers only tell a small part of the story, since ...
Wait until age 70 to start collecting Social Security. For 2024, the maximum possible Social Security benefit if all of the boxes are checked is $4,873 per month, or about $58,500 per year.
Know, though, that the average benefit for those aged 70 was $1,963 as of December 2022, as per the most recent data provided by the Social Security Administration. That's about $23,500 per year ...
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