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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.
Social Security full retirement age chart. ... claiming at age 70 was the ideal choice to maximize their lifetime benefit amount. Furthermore, a whopping 99.4% of older adults could optimize their ...
The chart below shows the maximum Social Security benefit for retired workers at different claim ages in 2025. ... Starting Social Security at age 70 (the latest sensible claim age) results in a ...
The benefit amount can vary depending on if you retire early or wait until age 70. Find Out: 2 Changes Are Coming to Social Security in 2025 Trending Now: 5 Low-Risk Ways To Build Your Retirement ...
The average monthly Social Security benefit for retired workers at age 70 is about $757 more than the average payout at age 62. ... and there is no advantage to claiming later than 70. The chart ...
Data source: Social Security Administration. Chart by author. Despite earning comparable salaries throughout their careers, the 70-year-old person can receive a monthly benefit 80% higher than ...
Average Social Security benefit by age 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.
Workers who qualify for Social Security benefits can start collecting their monthly payments at any point between the ages of 62 and 70. The simple answer is that the average 70-year-old retired ...