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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 ...
The average retired worker collects around $1,298 per month at age 62 and roughly $1,884 per month at age 67, according to data released by the Social Security Administration in December 2023.
Here are some solid reasons to start taking your Social Security benefits as soon as you can. Health status Health issues rank high on the list of concerns in a 2021 Gallup poll cited by Experian.
For instance, beneficiaries born in 1960 or later can increase their monthly check by 77% by claiming Social Security at age 70 rather than age 62. Most retired workers can maximize lifetime ...
However, if longevity doesn’t run in your family or if you have chronic health problems, you might consider taking your Social Security early. If you wait until age 70 and have a short life span ...
The earliest you can file for Social Security is 62 and you’ve reached “full retirement” — when you can collect 100% of your eligible benefit — between 66 (those born 1943-54) and 67 ...
Citing figures from Social Security, the Bipartisan Policy Center says, “15 percent of 62-year-old men will reach [age] 92” and “14 percent of 62-year-old women will live to at least 95.”
You can start getting Social Security retirement benefits when you turn 62 years old, the earliest age when they're available. However, there are downsides to starting benefits at such a young age.
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