Here's the Max Social Security Benefit at Age 62 -- and How to Get It
If you're hoping to max out your benefits while claiming Social Security at the youngest age, here's what you'd need to do.
Overview
You can claim Social Security benefits starting at age 62, and your benefit will be based on your average wages during your 35 highest-earning years. However, 62 is considered an early claim, so your benefit will be reduced because you claimed it early.
Because benefits are based on how much you earn, the amount retirees collect can vary widely. However, the maximum benefit at 62 is $2,969. This is substantially below the maximum benefit at full retirement age, which is $4,152, or the maximum benefit of $5,181 that you can collect at age 70.
Details
If you want to maximize your monthly income and earn the full $2,969 available at 62, here's what you need to do.
Source
Originally published at www.fool.com.
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