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Data source: Social Security Administration. Here's the maximum possible Social Security benefit at ages 62, 66, 67, and 70. Determining the best age to claim Social Security will come down to ...
Explore More: 5 Low-Risk Ways To Build Your Retirement Savings in 2025. ... Claiming Benefits Early. Sometimes it makes sense for your situation to claim Social Security benefits early (you can ...
Learn More: 4 Things You Must Do When Your Retirement Savings Reach $50,000. ... You can claim retirement benefits as early as age 62, but the longer you wait to apply, the higher your monthly ...
2. If your spouse passes away, it could change your benefit amount. In general, once you begin claiming benefits, your payments are locked in for life (save for annual cost-of-living adjustments ...
3. Delay your benefit. Delaying your benefit will increase your benefit check, but there’s a limit to how high it will go. You can begin taking your Social Security benefit at age 62, though you ...
The earliest you can claim benefits is age 62, and the latest is age 70. Should you claim at 62, you will receive roughly 30% less in your monthly check than you will if you claim benefits at 70 ...
In general, claiming benefits before your FRA reduces them by 5/9 of 1% each month within 36 months of FRA. Beyond 36 months, Social Security further reduces benefits by 5/12 of 1% each month.
One of the biggest financial decisions you will make as a retiree is when to start claiming Social Security benefits. You can claim them as early as age 62, but the earlier you claim them, the ...