This Is the Average Social Security Benefit at Age 62
The Social Security Administration paid out about $1.4 trillion in benefits last year, with $93.1 billion of that going toward retired workers and their dependents. The majority of seniors 65 and older rely on Social Security to help them cover their retirement expenses, with many citing it as a major source of income.
So it only makes sense that people want to maximize their checks. Below, we'll talk about how the government calculates your benefit and how signing up at 62 -- one of the most popular claiming ages -- affects what you take home.
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Source Fool.com
