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Retirement is a numbers game in the United States, and those numbers make a big difference in terms of the Social Security benefits you ultimately receive. Discover More: 9 Moves for Retirement...
Image source: Getty Images. 1. The size of your retirement fund. No matter when you begin taking Social Security, it may be hard to survive on benefits alone in retirement.
Here’s what to know about taking Social Security and the trade-offs between claiming your benefit before, during or after your full retirement age. ... 65. 1938-1942. 65 + 2 months for each year ...
It used to be 65 for everyone, ... 66. 1955. 66 and 2 months. 1956. 66 and 4 months. 1957. 66 and 6 months. ... Choosing when to take Social Security is a major decision. You’ll need to consider ...
65. $1,563. 66. $1,740. 67. $1,884. 68. $1,948. 69. $1,945. 70. $2,038. ... There's no single best age to take Social Security, and your priorities will help determine the best decision for you ...
Your full social security retirement benefit depends on what year you were born. Here is the breakdown for current social security standings by year of birth and age.-1943-1954: 66-1955: 66 and 2 ...
By waiting until age 70 to claim, though, the average retiree collects around $298 more per month, compared to age 66. There's no right or wrong time to take Social Security, but claiming in your ...
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 ...