A 62-year-old begins taking Social Security and receives a monthly benefit of $1,706. If they wait until full retirement age (67
Age 62 67 (FRA) 70
Monthly benefit $1,706 $2,437 $3,022
Disclosure Title
Source:
Disclosure

Social Security Administration.

Benefits are based on FRA for individuals born after 1960 and assume no inflation increases and retirement at age 62. This hypothetical example is only for illustrative purposes.