Since then, the typical age of retirement has inched closer to what was once regarded to be the standard. The typical retirement age for males was 63 in 2001.
the typical retirement age for women was 60 at that time; nine years later, those averages increased to 64 and 62, respectively. The typical age of retirement for men was 65 in 2021
Even if you retire at the age of 65, there is no rule that says you have to start collecting Social Security payments at that age
You can wait until as late as age 70, which is something that a lot of people in the United States do
In 2022, the average monthly payout for a 65-year-old will be $2,484, according to the Social Security Administration.
The organisation estimates that 65-year-old Social Security claimants earn $29,806 annually.
Annual benefits for those 65 and older are expected to reach $30,708 in 2023, or $2,559 per month.