For many Americans, Social Security is the cornerstone of retirement income. Nearly 90% of people over age 65 receive benefits from the program, according to the latest data from the Social Security ...

You're allowed to claim Social Security as early as 62, but doing it so early reduces your checks by 5/9 of 1% per month for up to 36 months and then 5/12 of 1% per month thereafter. If your FRA is 67 ...

The chart makes it clear that Social Security payments tend to be bigger for older retirees. The discrepancy between the average benefit at 62 (the earliest possible claim age) and 70 (the oldest ...

Some older Americans, staring down potential Social Security benefit cuts, might look to access the program as soon as possible. Experts say that could be a mistake. Instead, potential beneficiaries ...

The earlier you claim Social Security, the smaller your monthly benefit will be. You must wait until 70 to apply if you want your largest possible checks. There are scenarios where claiming early ...

Fewer people are claiming Social Security benefits at age 62. Factors, including the elimination of the earnings test, have contributed to people deciding to work longer and claim benefits later, ...

Some married couples can maximize Social Security benefits when the lower-earning spouse files for benefits first, even ...

Understanding how the average Social Security check amount changes at the different milestone claiming ages — 62, 65, 66, 67 and 70 — is key to retirement planning. These figures highlight the ...

The average retired worker gets about $2,000 per month from Social Security. Beneficiaries who are 62 years old get about $650 less, on average. Claiming Social Security at 62 can result in a benefit ...

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 higher now.