Is It Better to Collect Social Security at 62, 65, or 70? A Comprehensive Study Provides a Very Clear Answer.

As this year began, retired-worker beneficiaries were bringing home an average monthly Social Security check of $1,975.34. Though this is a relatively modest amount of monthly income, it's proven pivotal to helping retirees make ends meet.Since 2002, national pollster Gallup has surveyed retirees annually to gauge their reliance on America's leading social program. The April 2024 study showed that 88% of respondents leaned on their payout, in some capacity, to cover their expenses. This is consistent with the previous 22 years of polling, which found that 80% to 90% of retirees rely on their monthly payout to some degree.In other words, Social Security isn't just a check -- it's a bedrock that much of America's aging workforce counts on for financial support. For most future retirees, it'll be imperative to get as much as possible out of Social Security.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool