This Is the Average Social Security Benefit for Age 62

The age you begin claiming Social Security will permanently affect your benefit amount, so it's a decision to be made carefully.Age 62 is the earliest you can file, and it's also a popular time to begin claiming -- with roughly one-quarter of retirees taking benefits at this age, according to 2022 data from the Social Security Administration.While filing early can help you get a jump-start on retirement, it will also shrink your monthly payments substantially. Filing as early as possible will result in a reduction of up to 30% compared to what you'd receive at your full retirement age. Here's what the average benefit looks like at age 62.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool