Here’s How Much Your Peers Get in Social Security
See how your Social Security benefits compare with those of other people your age.
Dmytro Zinkevych / Shutterstock.com
How much you receive in Social Security retirement benefits depends on multiple factors, which include when you open your claim.
On the other hand, for every year past your full retirement age that you wait to claim benefits, your monthly payment will get an 8% boost, up to age 70.
To see how much payments vary by age, we looked at the 2020 Annual Statistical Supplement from the Social Security Administration. It reports data from December 2019, which is the most recent information of this type available.
5 Steps to Ensure Your Money Lasts Through Retirement
Here s how to turn your retirement assets into income that lasts a lifetime.
This story originally appeared on NewRetirement.
If you’re reading this, you’re likely someone who: saves money, has built up some assets, and is starting to think about how to create a retirement drawdown strategy – a plan for how to turn your assets into income that will last for life.
Having a sound retirement drawdown strategy and keeping to it is crucial if you want to be able to live comfortably in retirement and not spend time worrying about outliving your savings. Most of the financial services industry has been focused on helping people accumulate or save and invest (and their business models are built on this).
7 Reasons to Carry Mortgage Debt Into Retirement msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Builders Seek More Capital to Meet Surging Demand builderonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from builderonline.com Daily Mail and Mail on Sunday newspapers.