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The average benefit at age 70 is around $2,038 per month -- a whopping $740 more per month than the average at 62. If money is going to be tight in retirement, delaying claiming can make your ...
The following table outlines the lifetime benefit the average 62-year-old worker discussed above could get from Social Security by claiming a $1,298.26 monthly benefit at 62 versus a $1,854.66 at ...
Age 62 is the earliest you can claim benefits, 67 is most people's full retirement age, and 70 is when monthly benefits stop increasing if you delay claiming them past your full retirement age ...
In order to qualify for the maximum Social Security benefit, you'll need to earn a high salary for several decades. ... You can claim Social Security retirement benefits at as early as 62 years ...
The amount of the reduction depends on the year you were born. For example, if you were born in 1960 or later, taking Social Security benefits at age 62 would reduce your monthly benefit by 30% ...
Say you're entitled to $2,000 a month in Social Security at age 67. If you file for benefits at 62, you'll get $1,400 a month instead. Hold off until age 70, and your monthly benefit is $2,480. If ...
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