These 7 charts show how Americans are claiming Social Security | LifeHealthPro
No doubt. As we’ve previously reported in this space,
a 62-year-old retiree eligible for Social Security income of $1,000 per
month could boost the payout to $1,500 per month by waiting to age 67.
The $500 (50 percent) increase has to be weighed, however, against
another reality: the $1,000 per month in lost income. Christopher Hill, a
contributor to LifeHealthPro, calculates that the 67 year-old retiree
would need 15 years to arrive at a break-even point (i.e., where the
total of the additional $500 matches the $1,000 payout).
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