At age 67, those born in 1960 or later qualify for their full retirement benefit from Social Security, avoiding reduced benefits if taken early at 62. On average, people claim benefits at 65, although slightly later over recent years. The median retirement savings balance for households led by individuals ages 65-74 is $200,000, lasting potentially 15-30 years. Monthly spending for the average middle-class retiree at age 67 is roughly $5,845, with housing, transportation, and healthcare being major expenses. Planning for retirement requires substantial savings to maintain a comfortable lifestyle. Starting early and seeking financial advice can help navigate retirement plans effectively.

Read more at Yahoo Finance: How Much the Average Middle-Class Retiree Spends Monthly at Age 67