Here's the Max Social Security Benefit at Age 62 -- and How to Get It
If you're hoping to max out your benefits while claiming Social Security at the youngest age, here's what you'd need to do.
Social Security benefits can be claimed starting at age 62, but this is considered an early claim, resulting in a reduced benefit. The maximum benefit at 62 is $2,969, according to Motley Fool. This is lower than the maximum benefit at full retirement age, which is $4,152, and the maximum benefit of $5,181 that can be collected at age 70.
The benefit amount is based on average wages during the 35 highest-earning years. To maximize monthly income and earn the full $2,969 available at 62, one would need to meet specific earnings requirements, as reported by Motley Fool.
Debt among older Americans is rising, with more households carrying debt and borrowing larger amounts, as reported by MarketWatch and MarketWatch Top.
Brief written by urgent.news from Motley Fool, MarketWatch Top, MarketWatch — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.