Claiming Social Security Early? Here's How Much an Early Claim Costs the Average Retired Worker -- To the Dollar
In June, close to 67 million people collected a traditional Social Security check, 49.4 million of which were retired workers. For a majority of these retirees, their monthly benefit represents a critical source of income needed to cover their expenses.
Given how important Social Security income is to current retirees, as well as how many non-retirees expect it to represent either a major or minor income source when they hang up their work coats for good, it pays to get the most out of the program. This means it's important to have a good understanding of how your monthly benefit is calculated, and how your claiming decision can drastically impact what you'll receive each month.
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Source Fool.com
