Here's the Average Social Security Benefit at Ages 62 to 70
Retirees can maximize their Social Security benefits by claiming at age 70.
Here's the Average Social Security Benefit at Ages 62 to 70
Overview
Social Security is often the largest source of income for retired workers, so it makes sense to do everything in your power to maximize your benefit. Yet many people shortchange themselves by claiming benefits as early as possible (age 62), in which case they get the smallest possible payout based on their work history.
Some of those people may not even understand the consequences of their decision. Four in 10 adults think that, even if they claim Social Security early, benefits automatically increase at full retirement age, according to Nationwide Retirement Institute's 2025 survey. But that's false. If you claim early, the benefit reduction is permanent.
Details
Here's exactly how much claim age impacts Social Security.
Source
Originally published at www.fool.com.
