"Average Social Security Benefits at Ages 62, 66, and 70 Revealed"

The average Social Security benefit for retirees increases significantly with delayed claiming, from $1,298 at age 62 to $2,038 at age 70. Despite concerns about the Social Security trust fund, benefits are primarily funded by payroll taxes and will continue. Understanding the impact of claiming age on benefits is crucial for financial planning, as delaying benefits can substantially increase payouts.