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The earliest you can claim Social Security benefits is age 62. In 2021, about 29 percent of newly retired workers claimed their retirement benefits at age 62, according to the Congressional ...
If you're turning 62 in 2022 there are a few things you'll want to know before you begin considering applying for social security from how far in advance you can apply to how much early retirement...
Most retirees can claim their monthly benefit starting at age 62, but waiting to claim results in a bigger monthly check from the government. Your benefits typically max out at age 70.
Many people are aware that claiming Social Security at age 62 means accepting a reduced monthly benefit for the remainder of their retirement.
The average retired worker collects around $1,298 per month at age 62 and roughly $1,884 per month at age 67, according to data released by the Social Security Administration in December 2023.
But those reduced benefits can add up. If you take Social Security before full retirement age, you should expect a 30% reduction in monthly benefits, according to Fidelity.
Here’s how to land at the right choice for you. 62 versus 70 explained As of February 2023, the average Social Security retirement benefit was $1,782 per month, or $21,384 per year.
Working in Retirement Will Reduce Your Benefits If you choose to retire and claim Social Security benefits before your full retirement age, you should understand the Social Security earnings test.
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