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Data source: Social Security Administration. Even though the 70-year-old and the 62-year-old earned comparable salaries throughout their careers, the 70-year-old ends up receiving a monthly ...
2024. $168,600 . 2000. $76,200. 2025. $176,100 ... Here's the maximum possible Social Security benefit at age 62, 67, and 70. ... But a handful of little-known "Social Security secrets" could help ...
As you can see, the 70-year-old claiming the maximum benefit in 2024 receives $58,476 in annual income from Social Security alone. The 62-year-old brings in just $32,520.
Data source: Social Security Administration. Here's the maximum possible Social Security benefit at ages 62, 66, 67, and 70. Determining the best age to claim Social Security will come down to ...
As a general rule of thumb, Social Security benefits are designed to replace about 40% of pre-retirement income. It will be more if you were a lower earner, or less if you are a higher earner.
At age 70, the average benefit among retired workers is $2,037.54 per month, according to December 2023 data from the Social Security Administration. Compared to those who filed earlier, that's a ...
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