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Using data from the University of Michigan's Health and Retirement Study, United Income extrapolated the Social Security claiming decisions of 20,000 workers to determine if they were optimal.
Data source: Social Security Administration. Despite earning similar salaries throughout their careers, someone turning 70 in 2025 could receive a benefit that's over 80% higher per month than ...
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 ...
If you believe you'll need your Social Security check to make ends meet during retirement, you'll want to work at least 35 years. The third variable, your full retirement age, is determined by the ...
In order, the five ages likeliest to have optimized lifetime Social Security benefits were 70, 67, 69, 68, and 66. To be clear, there are still scenarios where a claim at age 62 or 66 makes ...
In other words, workers born in 1960 or later can increase their benefit by 77% by claiming Social Security at age 70 rather than age 62. The $ 22,924 Social Security bonus most retirees ...
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