65% of Retired Workers Begin Collecting a Social Security Check at These 3 Ages
For the last 23 years, national pollster Gallup has been surveying retired workers to gauge their reliance on Social Security income. For more than two decades, between 80% and 90% of respondents pointed to their Social Security check as being either a "major" or "minor" income source. In other words, the overwhelming majority of retired-worker beneficiaries wouldn't be able to cover their expenses without Social Security.
For future generations of retirees, it's a similar story. Nearly a quarter-century of Gallup surveys show that between 76% and 88% of future retirees, in any given year, anticipate relying on their Social Security payout as a needed source of income.
Getting as much as possible out of the program is imperative to shoring up the financial foundations for future retirees. But in order to do so, they need to understand the nuts-and-bolts of what determines their monthly benefit -- including the all-important claiming age.
Source Fool.com
