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What's the average Social Security benefit at ages 62, 67, and 70? ... let's examine what the average Social Security benefit is at 62, 67, and 70. ... to make ends meet during retirement. The ...
A study published by the National Bureau of Economic Research in November 2022 found that 90% of workers ages 45 to 62 would maximize their Social Security by claiming benefits at age 70.
In fact, the average retired worker collects a whopping $740 more per month at age 70 compared to age 62, according to December 2023 data from the Social Security Administration. Age Average ...
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
The average Social Security benefits at ages 62, 67, and 70 ... 67 is most people's full retirement age, and 70 is when monthly benefits stop increasing if you delay claiming them past your full ...
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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