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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.
First, 70-year-olds applying for Social Security in 2022 had a full retirement age of 66. That gives them an extra year of delayed retirement credits, pushing their benefit to 132% of their ...
The average 70-year-old spousal benefits recipient gets $991.98 per month, as of the latest data. This makes sense. After all, spousal benefits are designed to provide up to half of the primary ...
As of December 2021, the most recent year for which data is available, the average Social Security benefit at age 70 was $1,768.94. This is up 8.3% from December 2020, when the average benefit for ...
The average Social Security benefit for retirees at age 70 is much ... such that the average 70-year-old retiree receives an additional $757 in monthly benefits compared to the average 62-year-old ...
On the flip side, delaying benefits past your full retirement age increases your monthly benefit by 2/3 of 1% monthly (8% annually), which is why age 70 is important.
For those without 35 years' worth of earnings, ... The average Social Security benefits at ages 62, 67, and 70. Ages 62, 67, and 70 are key milestones in Social Security. Age 62 is the earliest ...
The average monthly benefit for 70-year-old recipients was $2,022, or $24,264 for the year. There's no value in waiting to claim beyond 70, as no additional delayed retirement credits will accrue.