Reported 8 months ago
The average Social Security benefit for 70-year-old retirees is $1,963.48 per month, amounting to $23,562 per year as of 2023. Individuals can start collecting benefits between 62 and 70, with the maximum possible benefit reaching $4,873 per month if specific criteria are met. Additionally, spousal benefits for 70-year-olds average $991.98 per month, providing financial support for spouses who had lower earnings or did not work. Overall, there is significant variability in Social Security benefits depending on various factors.
Source: YAHOO