This Is the Average Social Security Benefit for Age 69

The average person collecting a retired worker benefit from Social Security receives $1,905.31 a month, according to the 2024 Social Security Statistical Supplement. However, the average 69-year-old beneficiary gets $1,945.18 -- about $40 more per month than the average retired worker.This translates to $23,342 in annual inflation-protected retirement income for the typical 69-year-old.The main reason why the average 69-year-old gets more than the overall average retired worker has to do with the proportion of beneficiaries who claimed Social Security early. First, the overall average includes millions of people who have not yet reached full retirement age -- meaning that there are a disproportionate number of beneficiaries who have reduced benefits for early retirement age compared to just 69-year-olds.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool