This chart shows how your monthly Social Security benefit differs based on the age you start receiving your benefits. Assuming a $1,000 monthly benefit at full retirement age of 67, you would receive $700 a month if you started receiving benefits at 62. But the benefit can increase incrementally to $1,240 a month — or a 24% increase — if you wait until age 70.
This chart shows how your monthly Social Security benefit differs based on the age you start receiving your benefits. Assuming a $1,000 monthly benefit at full retirement age of 67, you would receive $700 a month if you started receiving benefits at 62. But the benefit can increase incrementally to $1,240 a month — or a 24% increase — if you wait until age 70.
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