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The age you file for Social Security is perhaps the most important decision affecting your benefit amount. You can begin taking benefits as early as 62, but waiting up to age 70 will earn you ...
If you’re born in 1960 or later, you’ll have to wait until you turn 67 to collect your full benefits, though you can start collecting as early as age 62 (though your monthly check will be ...
If you’re younger than full retirement age for all of 2024, the Social Security Administration will deduct $1 of your monthly check for every $2 you earn above $22,320 per year.
Only then can you realize how important your claiming age is, and what impact an early (age 62), middle-ground (age 67), or late (age 70) collection approach can have on your monthly benefit.
While the Social Security Administration defines “full retirement age” as 67 for those born in 1960 or later, you can actually file for benefits as early as age 62 or as late as 70.
Throughout your working career, you pay employment taxes that help fund Social Security, which provides income when you retire. In 2023, nearly 67 million people will receive Social Security ...
While you could potentially live off your savings and investments if you retire in your 30s or 40s, you can’t claim your Social Security benefit until age 62 at the earliest, and you’re not ...
Data source: Social Security Administration. The average is as of December 2023. How much will your Social Security benefit be if you start early?. You can get an estimate of your future Social ...