A good age to retire is if you receive help from Social Security

Traditionally, monthly, the Social Security Administration (SSA) issues its checks to plan beneficiaries. These are usually retired workers.

In this sense, there are various factors when considering the amount of checks. These range from number of years worked and salary received to taxes paid to insurance during the beneficiary's tenure.

However, the most important aspect to consider is the age at which the pension is claimed.

As established by the SSA, the minimum age to apply for a pension in the United States is 62 years. However, it is better to wait for a while because, at that age, the payment is not fully received.

Therefore, the full retirement age varies depending on the date of birth of the beneficiary. For example, for those born between 1943 and 1954, the full retirement age is 66 years.

Meanwhile, those born after 1960 have to wait until age 67 to reach it and thus receive their full benefits.

At age 66, what will the average Social Security check be in 2024?

Let's be clear, Social Security payments are up 3.2% this year as a result of the cost-of-living adjustment (COLA) increase.

This reached an average check of $1907.00 USD per month for individuals and $3303.00 USD for couples filing taxes jointly.

On the other hand, those who waited until age 66 to retire could receive a maximum of $3,652.00 USD per month in 2024.

Therefore, the SSA recommends delaying withdrawals to receive a larger amount each month. Therefore, individuals who wait until age 70 or older are eligible to pay a maximum of $4,873.00 USD per month.

Those looking to get an estimate of their Social Security benefits can use the Social Security Benefits Calculator. You can request a calculation through My Social Security Account and other tools available on the SSA portal.