Search results
Results From The WOW.Com Content Network
Although every age within the traditional collection range of 62 through 70 has its own unique advantages and drawbacks, three claiming ages are likely to be especially popular moving forward: 62 ...
But that hypothetical worker will get $1,400 per month if they claim benefits at age 62 (70% of $2,000), and they will get $2,480 per month if they claim benefits at age 70 (124% of $2,000).
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.
The average retired-worker benefit at age 70 is $2,038 per month, which is $740 higher than the average benefit at age 62. Social Security benefits depend on several variables.
The average benefit at age 62 is just $1,298.26 per month, or around $739 per month less than the average at 70. Age Average Monthly Benefit Among Retired Workers
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 ...
The average 70-year-old retired worker collecting a Social Security benefit receives $1,963.48 per month, or $23,562 per year, according to the latest Social Security Statistical Supplement, which ...
By comparison, just over 3 million beneficiaries took home an average check of $2,037.54 at age 70. This represents a 57% difference in average monthly payout between ages 62 and 70.