Here's How Much the Average 62-Year-Old's Social Security Benefit Will Rise in 2024
Social Security's most popular claiming age is also its earliest: 62. Nearly a quarter of all seniors choose to sign up then to get as many checks as possible. But doing this comes at a cost. Claiming early reduces how much you get each month. Cost-of-living adjustments (COLAs) are smaller, too, since they're based on a percentage of your benefit.
Thankfully, 2024's COLA will soon give all seniors a much-needed boost. Read below to learn what the earliest claimers can expect and what you can do if you don't feel your Social Security checks go far enough.
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Source Fool.com
