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If You Make $60,000 in Average Annual Income, Here's How Much You Can Claim in Social Security if You Retire at Age 62

If You Make $60,000 in Average Annual Income, Here's How Much You Can Claim in Social Security if You Retire at Age 62

Most retirees end up waiting until what is called their full retirement age (FRA) of 66 or 67, or even later, before claiming Social Security benefits. The goal is to maximize the value of your Social Security benefits into retirement for as long as possible. A helpful exercise can be to figure out how much Social Security you would qualify for at certain ages and annual incomes, which will help you decide on whether to take Social Security early or wait for your FRA.