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But the differences between the maximum possible 2025 Social Security benefit at 62, 67, and 70 show the value of delaying benefits as long as possible. ... When you apply for Social Security, the ...
You've decided that 2025 is the year you're finally going to claim Social Security. The government bases your Social Security benefits on your income during your working years and your age at sign-up.
Data source: Social Security Administration. Even though the 70-year-old and the 62-year-old earned comparable salaries throughout their careers, the 70-year-old ends up receiving a monthly ...
Lastly, Social Security will apply a formula using bend points to determine your primary insurance amount ... The maximum Social Security benefits at ages 62, 67, and 70. Ages 62, 67, and 70 are ...
Here's the unfortunate truth about claiming Social Security at age 70. Social Security cards laying on top of a $100 bill. Image source: Getty Images. You're taking a risk.
Table source: Social Security Administration. As you can see, there's a stark difference in the monthly income depending on the age you claim. A 70-year-old can receive up to $58,476 this year ...