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For premium support please call: 800-290-4726 more ... Getty Images. Why are 62, 67, and 70 important ages for Social Security? ... delaying benefits past your full retirement age increases your ...
Chart showing Social Security full retirement ages by birth year. ... delaying benefits until 70 would increase it by roughly 24% (assuming your full retirement age is 67). ... Women's Average ...
At 8% per year, your benefit jumps by 24% over your full retirement age, to $1,240. This is a whopping 77% over the amount you would receive if you filed at age 62 instead. More From GOBankingRates
One increasingly popular option for those who are near retirement is bridging the gap until you turn 70 by tapping into a 401(k) or individual retirement account.
Year of birth. Full retirement age. 1937 and before. 65. 1938-1942. 65 + 2 months for each year past 1937. 1943-1954. 66. 1955-1959. 66 + 2 months for each year past 1954
For premium support please call: 800-290-4726 more ways to reach us. Sign in. Mail. ... as each year you delay past your full retirement age until 70, benefits increase by about 8%,” said Amber ...
On the flipside, you can wait as long as age 70 to begin collecting Social Security benefits. In this case, the amount of your retirement benefit will continue to rise until age 70, when it maxes out.
The amount a 70-year-old should save for retirement can depend on several things, including: Desired retirement lifestyle When they apply for Social Security benefits