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The average retirement age in the U.S. -- ranging from 60 to 62 -- has held relatively steady since 2012, according to a study from Gallup and MassMutual. The average retirement age in 2023 was 62.
Those with a full retirement age of 67 will receive 24% more than their PIA by waiting until their benefits max out at age 70. In 2025, someone turning 70 will have been born in 1955. That makes ...
If you have a FRA of age 67 and you file as early as possible at age 62, your payments will be slashed by 30%. The average retiree can expect to receive around $586 more per month at age 67 ...
Social Security estimates your monthly payout to be $2,000 if you retire at 67, your full retirement age. You’d be short $3,000 a month with just Social Security.
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).
For example, if you retire at age 62 and collect $16,020 annually from Social Security, you'll need around $84,000 in retirement income from your investment portfolio every year.
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