This Is the Average Social Security Benefit for Age 70

Workers who qualify for Social Security benefits can start collecting their monthly payments at any point between the ages of 62 and 70. And as you may already know, the longer you wait, your monthly Social Security benefit will be. If you're thinking of waiting as long as possible, you might be wondering how much the typical 70-year-old gets.The simple answer is that the average 70-year-old retired worker gets $2,037.54 per month, or about $24,450 per year, from Social Security, according to the 2024 Social Security Statistical Supplement. This is significantly higher than the overall retired worker average of $1,950.31 per month and is significantly higher than the average of $1,298.26 per month for the average 62-year-old Social Security recipient.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool