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Your claiming age can shift the Social Security payout scale more than any other factor. ... let's examine what the average Social Security benefit is at 62, 67, and 70.
It shows the average monthly Social Security benefit for retired workers at different ages. As shown above, the average retired-worker benefit tends to increase with age, such that the average 70 ...
The average Social Security benefit at age 70. As of the latest data (December 2023), the average 70-year-old retired worker receives a Social Security benefit of $2,037.54 per month, or about ...
Lastly, about 3.01 million retired workers who were 70 years old in December 2023 collected an average Social Security check totaling $2,037.54. In short, retired workers at age 70 received 57% ...
At age 70, the average benefit among retired workers is $2,037.54 per month, according to December 2023 data from the Social Security Administration. Compared to those who filed earlier, that's a ...
While there's always the possibility for savings to run out, Social Security is guaranteed to pay you a monthly benefit for the rest of your life. The earliest age you can claim Social Security is 62.
As shown above, the average Social Security payout generally increases with age, such that the average 70-year-old retiree gets about $757 per month more than the average 62-year-old retiree.
Data source: Social Security Administration. What's the average Social Security benefit at ages 62 and 70? Despite this wide variance in monthly payouts, there are clear-cut advantages and ...