Here's the Average Social Security Benefit at Age 64
By Sean Williams | Nov 25, 2023 at 3:44AM
Key Points:
You can start receiving your Social Security retirement benefits as early as age 62. However, the benefit amount will be reduced if you claim early. For those who wait until full retirement age (FRA), which is 66 or 67 depending on your year of birth, they'll receive their full retirement benefit amount. Additionally, you can delay taking benefits until as late as age 70 to earn delayed retirement credits, which will increase your monthly benefit amount.
The average Social Security retirement benefit at age 64 is $1,783 per month. This is significantly less than the average benefit at FRA, which is $2,031 per month. If you're considering claiming benefits early, it's important to weigh the reduced benefit amount against the flexibility of being able to access your benefits sooner. You can use the Social Security benefits calculator to estimate your retirement benefits based on your age and earnings.
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