Arguably two of the biggest aspects that determine your benefits are your 35 highest-earning years of employment and your predetermined full retirement age.
The plan would give Americans the option of an advance payment of up to $5,000 that delays Social Security benefits by three months once the individual entered retirement.
A recent study from Fidelity showed 401(k) retirement accounts fell by an average of 19% to $91,400 during the first quarter of 2020.
One reason 62 could be such a popular age to claim Social Security is because people may just need the extra income.
The IRS started sending stimulus checks to Social Security beneficiaries and others opting for paper checks last week.
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