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Data source: Social Security Administration. Chart by author. Despite earning comparable salaries throughout their careers, the 70-year-old person can receive a monthly benefit 80% higher than ...
Age 62 is noteworthy because it's the earliest you can claim Social Security. The trade-off is that your monthly benefit will be reduced by 30%, assuming your full retirement age is 67. For ...
You can maximize your benefits if you wait to claim Social Security until your full retirement age or older. However, claiming earlier could shrink your monthly check by as much as 30 percent.
To be sure, there is flexibility about when to claim Social Security benefits. People can claim as soon as they turn 62 years old, but the trade-off is a reduced benefit that's locked in for the ...
If you can afford to wait a few years before claiming Social Security, it often pays to delay, regardless of how big your benefit will be. The $ 22,924 Social Security bonus most retirees ...
Image source: Getty Images. 1. You can't claim benefits until you've been 62 for the entire month. It's possible to apply for Social Security benefits up to four months before you plan to claim ...