The majority of older adults rely on Social Security to some degree in retirement. Nearly 60% of current retirees say their benefits are a major source of income, according to a 2023 poll from Gallup, while an additional 29% say it's a minor income source.

Regardless of how Social Security factors into your retirement, it's wise to take steps to maximize it -- and one of the best ways to do that is to determine how your age will affect your benefit amount.

You can file for benefits as early as age 62, but waiting a few years will dramatically boost your monthly payments. While your benefit will depend on several factors, it can sometimes be helpful to see the average among others your age.

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Source Fool.com