Social Security Payouts: Understanding Averages at Different Claiming Ages
There are many moving parts for someone to consider before claiming Social Security. Unsurprisingly, the main thing most people care about is how much they'll receive in benefits.That amount can vary widely among the 52.5 million recipients of Social Security retirement benefits due to the factors that go into calculating benefits, including earnings history and claiming age. However, having an idea of the average benefit amount can help you better plan your retirement finances, so let's take a look at the available data from the Social Security Administration (SSA).Image source: Getty Images.Continue reading
There are many moving parts for someone to consider before claiming Social Security. Unsurprisingly, the main thing most people care about is how much they'll receive in benefits.
That amount can vary widely among the 52.5 million recipients of Social Security retirement benefits due to the factors that go into calculating benefits, including earnings history and claiming age. However, having an idea of the average benefit amount can help you better plan your retirement finances, so let's take a look at the available data from the Social Security Administration (SSA).
Image source: Getty Images.
