This Is the Average Social Security Benefit for Age 67
One of the biggest decisions you'll make in retirement is when to claim Social Security benefits.
Most people can claim their retirement benefits starting in the month they turn 62 years old. Claiming early gives you access to that additional income upfront, but it comes at a significant cost. You'll receive a reduce payout compared to if you waited until full retirement age.
For many readers (those born in 1960 or later), full retirement age will be 67. For them, waiting to claim Social Security benefits until 67 can provide a monthly benefits check that's 43% higher than claiming your benefit at 62.
Source Fool.com
