Search results
Results from the WOW.Com Content Network
You can get Social Security retirement benefits as early as age 62, but your benefits will be reduced vs. what they would be if you waited until full retirement age.
Year of birth. Full retirement age. 1937 and before. 65. 1938-1942. 65 + 2 months for each year past 1937. 1943-1954. 66. 1955-1959. 66 + 2 months for each year past 1954
Your claiming age can shift the Social Security payout scale more than any other factor. ... Even though retired-worker benefits can begin as early as age 62, there's a financial incentive that ...
Calculating your Social Security benefit. The average monthly Social Security benefit for a retired worker is $1,909 (as of January 2024). But that number could be much less if you don’t work ...
To see how this might work in real life, consider the hypothetical case of John, who retires and claims Social Security at 62. John’s full retirement age is 67, when he’ll be eligible for ...
In fact, according to 2023 data from the Social Security Administration, the average retiree collects around $1,884 per month in benefits at age 67 compared to $1,298 monthly at 62 -- a difference ...
One of the biggest questions when it comes to planning your retirement is when you should take your Social Security benefits. ... as early as age 62 or you could wait until later, like age 70 ...
According to the Social Security Administration (SSA), if you were born between 1943 and 1954, your full retirement age is 66. By claiming at the age of 62, a hypothetical $1000 retirement benefit ...