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One thing soon-to-be retirees need to start looking at carefully is where they fall in terms of Social Security benefits. Whether you start taking withdrawals at 62, 67, or 70, it’s important to ...
The lure of claiming benefits at age 62 is not having to wait to get your hands on your benefit. There's also the possibility of sweeping Social Security benefit cuts by 2033. Taking your payout ...
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).
In fact, the average retired worker collects a whopping $740 more per month at age 70 compared to age 62, according to December 2023 data from the Social Security Administration. Age Average ...
According to the Social Security Administration, or SSA, the monthly retirement benefit for Social Security recipients is currently $1,783.55 in 2024 on average. Several factors can drag that ...
By claiming at the age of 62, a hypothetical $1000 retirement benefit would be reduced by 25% and you would only receive $750 per month. A $500 monthly spousal benefit would be reduced to $350.
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