Search results
Results from the WOW.Com Content Network
Data source: Social Security Administration. What's the average Social Security benefit at ages 62, 67, and 70? Although every age within the traditional collection range of 62 through 70 has its ...
For most people reading this (those born in 1960 or later), full retirement age for the purpose of Social Security benefits is 67 years old. The short answer is that the average 67-year-old ...
Claiming Social Security at 62 would reduce your monthly PIA by 30%; delaying benefits until 70 would increase it by roughly 24% (assuming your full retirement age is 67).
Image source: Getty Images. Full retirement age, full benefit. As of the end of December 2023, the average monthly Social Security benefit for retired workers aged 67 was $1,883.50.
Benefits could also be reduced if your early retirement prompts an early Social Security claim. ... Full retirement age (FRA) depends on birth year and is: 67 if you were born in 1960 or after ...
Any earnings above that amount won't incur Social Security taxes, but they also won't count toward your earnings history. ... Retirement Age. 62. 66. 67. 70. Maximum monthly benefit in 2024 ...
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 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.