If You Make $60,000 in Average Annual Income, Here's How Much You Can Claim in Social Security if You Retire at Age 62
Most retirees end up waiting until what is called their full retirement age (FRA) of 66 or 67, or even later, before claiming Social Security benefits. But you can actually start claiming them as early as the age of 62 if you feel like you are in a position where it makes sense.
When making this choice, you should think long and hard about where you're at in life from a financial perspective, and also understand how your health is doing. The goal is to maximize the value of your Social Security benefits into retirement for as long as possible.
A helpful exercise can be to figure out how much Social Security you would qualify for at certain ages and annual incomes, which will help you decide on whether to take Social Security early or wait for your FRA. Let's take a look at what your Social Security benefits would be if you retired at age 62 and earned the 2022 equivalent of $60,000 in annual income on average over your career.
Source Fool.com
