Here's the Average Social Security Benefit at Ages 62, 66, and 70

Contributing sentiments towards policy:

61% : Their goal was to determine how many of these retirees made an "optimal" choice -- in other words, one that maximized their lifetime income from Social Security.
60% : Your claiming age is the fourth and arguably most important factor in determining how much you'll be paid each month from Social Security.
59% : But to get as much as possible out of Social Security, future retirees first need to understand the ins and outs of how their benefits are calculated.
59% : But when taking a step back and examining a broad scope of Social Security claiming ages, 70 is, statistically speaking, superior to all others.
57% : In other words, getting as much as possible out of Social Security isn't just a daydream for most Americans -- it's a necessity, given the current and expected reliance on income from this program.
56% : Working fewer than 35 years makes it impossible to maximize what you'll receive from Social Security.
54% : Data source: Social Security Administration.
53% : For more than two decades, national pollster Gallup has been surveying retirees and non-retirees to assess their current or expected reliance on Social Security as an income source during retirement.
47% : Everyone walks their own path, which means the variables that matter to them, including financial needs, access to retirement accounts, tax implications, marital status, personal health, and so on, are going to be unique and will need to be considered on a case-by-case basis.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.