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Here's the average Social Security benefit for retirees at different ages. ... Birth Year. Full Retirement Age. Benefit at Age 62. Benefit at Age 70. 1943-1954. 66. 75%. 132%. 1955. 66 and 2 months.
The first thing to be aware of is that the average Social Security benefit as of January 2024 was just $1,907 per month. That's not a lot of money for most seniors to live on. Your benefit may be ...
The earliest you can claim Social Security benefits is 62. In general, claiming benefits before your FRA reduces them by 5/9 of 1% each month within 36 months of FRA. Beyond 36 months, Social ...
Today, the average retiree claims benefits at age 65, according to the most recent data provided by the Social Security Administration about new retirement benefits awarded in 2022. The two most ...
Here’s the correct full retirement age based on your year of birth: Year of Birth. Full Retirement Age. 1943-1954. 66. ... Social Security benefits for retirees have generally gone up every year ...
Social Security benefits will likely play an important part in your retirement income. After all, nearly nine out of 10 people aged 65 and older were receiving benefits as of June 30, 2023.
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
Your full social security retirement benefit depends on what year you were born. Here is the breakdown for current social security standings by year of birth and age. -1943-1954: 66