Statistically Speaking, This Is the Best Age to Claim Social Security Benefits -- and It's Not Even Close
In June 2023, the average retired worker brought home a Social Security benefit of $1,837.29, which annualizes to just over $22,000 per year. While this might not sound like a lot of money, it's enough to keep close to 15.4 million adults aged 65 and over out of poverty each year.
Social Security income is vital for the vast majority of the program's more than 49 million retired-worker beneficiaries to make ends meet. This will likely also hold true for the well over 100 million working Americans who'll eventually receive a Social Security benefit.
In other words, getting the most out of Social Security is of the utmost importance to retirees -- and it all starts with an understanding of how your benefit is calculated.
Source Fool.com
