While the two studies above indicate that waiting longer results in a higher lifetime benefit, actual data shows more people ...

Importantly, the average Social Security benefit tends to increase over time because of inflation and changes in average ...

Key Points Claiming Social Security at age 62 reduces your benefit by up to 30%.The average 62-year-old claimer got $1,341.61 per month as of December 2024, though the average is likely a little ...

What's the most popular age to file for Social Security retirement benefits? It's 62 -- by far. Many Americans are ready to ...

While every year you wait to claim Social Security after 62 will increase your checks, waiting may not be the right decision ...

One of the most important retirement planning decisions you'll make in your golden years is when to apply for Social Security. The most popular age to claim retirement benefits, by far, is 62, the ...

Fewer people are claiming Social Security benefits at age 62. Better health and the elimination of the earnings test after 65 have lowered barriers to working longer.

When making a case for claiming benefits at 62, I like to give perspective by showing people's break-even age. In Social Security, your break-even age is when the total lifetime benefits from ...

Claiming Social Security at 62 means subjecting yourself to the maximum reduction in benefits you can face. If your FRA is 66, filing at 62 will constitute a 25% hit to your benefits.

For the average beneficiary right now, the difference between claiming when you're 62 versus claiming at the age of 70 is over $1,000 per month. That's no small amount for most households.

You can start claiming Social Security at age 62, but people born in 1960 or later will reach full retirement age — when they can receive their full benefit — at age 67.

In an example provided by the Social Security Administration, a typical American who claims Social Security at 62 could claim a monthly check worth $1,400. By age 70, the benefit rises to $2,480.