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 ...

You might also reevaluate your budget to trim spending and ramp up savings, as well as commit any windfalls, such as your tax refund, to your retirement account. If you are having a hard time finding ...

While Vanguard's newly released "How America Saves" yearly report reveals that Americans' 401 (k) savings rates are at record ...

By age 62, you may be ready to count down until your retirement kicks off. And if you’ve got a nice amount of money saved, you may be feeling confident about your senior years. But what if you ...

Although the average retirement age is 62, according to a 2024 Mass Mutual survey, it can be hard to accurately predict when you will retire. In 2025, more than 4.1 million Americans will turn 65.

The numbers behind Social Security say you should wait as long as possible makes sense, but there's more to the story than ...

If you want to do your own calculations, you can check your estimated benefit at different ages with your Social Security Administration account.

Claiming Social Security retirement benefits at age 62 has its plusses and minuses. On the plus side, you get access to supplemental retirement income as soon as possible.

According to the most recent data from the Social Security Administration released in December 2024, the average benefit at age 62 is $1,341.61 per month. ... behind on your retirement savings.

The average benefit at age 70 is around $2,038 per month -- a whopping $740 more per month than the average at 62. If money is going to be tight in retirement, delaying claiming can make your ...