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Social Security then calculates your Average Indexed Monthly Earnings (AIME) by determining the average inflation-adjusted monthly income that you earned during the 35 years when your earnings ...
These four components are used to calculate your monthly Social Security check ... Birth Year. Age 62. Age 63. Age 64. ... to make ends meet during retirement. The $ 22,924 Social Security bonus ...
These four variables are used to calculate your monthly Social Security check. ... Since your full retirement age is determined by the year you were born, it's the one factor you have no control ...
Retirement Age. 62. 66. 67. 70. Maximum monthly benefit in 2024 ... over 80% higher per month than their 62-year-old counterpart. ... the government starts imposing taxes on your monthly Social ...
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).
Anyone turning 62 this year or later has an FRA of 67, meaning claiming benefits at 62 would reduce the monthly amount by 30%. For example, if you were slated to receive $2,000 monthly at 67, you ...
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