Here's the Average Social Security Benefit at Age 70
For most Americans, Social Security provides an indispensable source of income. In addition to lifting more than 21.7 million people out of poverty every year -- roughly 15.4 million of whom are adults aged 65 and over -- it's a program that nearly 9 out of 10 retirees count on, in some capacity, to make ends meet.
Given Social Security's importance to the financial well-being of current retirees, getting the most you can out of the program is paramount. This begins with understanding how your Social Security benefit is calculated and how your claiming age -- including potentially waiting until age 70 -- can drastically impact what you'll receive on a monthly and lifetime basis.
Image source: Getty Images.
Source Fool.com
