Most Popular Ages to Claim Social Security and Their Average Monthly Benefits
Sunday, 11 August 2024, 03:21
Understanding the Popular Ages to Claim Social Security
Making the decision on when to claim Social Security is crucial for your retirement strategy. Many individuals opt to claim at age 62 for early access, while others choose to wait until age 70 for maximum benefits.
Average Monthly Benefits at Different Ages
- Age 62: Claimants receive approximately $1,300 per month.
- Age 66: Benefits increase to about $1,600 monthly.
- Age 70: The highest benefits reach around $2,800 monthly.
The choice of when to file can have long-term financial implications. It is essential to evaluate your personal circumstances and financial goals.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.