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Retirement is a numbers game in the United States, and those numbers make a big difference in terms of the Social Security benefits you ultimately receive. Discover More: 9 Moves for Retirement...
See, every retiree used to be able to get their full Social Security benefit at the age of 65. Their full benefit was based on average wages over their 35 highest earning years.
The simple fact that Social Security exists and provides a guaranteed monthly benefit to eligible retirees has reduced the poverty rate among seniors aged 65 and above from an estimated 38.7% ...
However, filing at 62 would reduce your payments by 30%, so it can pay to wait even a few years to begin taking benefits. The average 65-year-old retiree collects around $1,563 per month in ...
Individuals receiving Retirement Insurance Benefits constitute the largest group of beneficiaries, with 52.4 million retired workers or family members receiving monthly payments. Social Security Disability Insurance benefits were paid to 7.4 million disabled workers and 1.2 million dependents (children and spouses).
According to the most recent Social Security statistical supplement, which is based on December 2022 benefits, the average Social Security Benefit for a 65-year-old retired worker is $1,504.98 per ...
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