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Image source: Getty Images. Why so many Americans claim Social Security at 62. The question of why many Americans claim Social Security as early as possible is different from the question of what ...
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.
Workers who start Social Security after full retirement age get a bigger benefit, meaning more than 100% of their PIA. ... receive if they claim Social Security at ages 62 and 70. In other words ...
Social Security's full retirement age reflects the point at which people can claim their full benefits. It's going up in 2025. ... while someone claiming at 62 would receive a max of $2,710 ...
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 ...
The difference between someone who claims Social Security as soon as possible at age 62 and someone who waits until their benefits max out at age 70 is amplified when you look at the maximum ...
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 ...
The most someone who retires at their full Social Security retirement age in 2025 will be $4,018 per month. ... The maximum possible benefit for someone retiring at 62 in 2025 will be $2,831 per ...