What is the earliest age I can claim Social Security retirement benefits?

The earliest age you can claim Social Security retirement benefits is 62. However, claiming at this age results in a permanent reduction of your monthly benefit compared to claiming at your Full Retirement Age (FRA).

How much will my Social Security benefit be reduced if I claim early?

If you claim Social Security at age 62 with a Full Retirement Age of 67, your monthly benefit will be permanently reduced by approximately 30%. The exact reduction depends on the number of months you claim before your FRA.

Can I work and still receive Social Security benefits?

Yes, you can work while receiving Social Security benefits. However, if you are under your Full Retirement Age (FRA), your benefits may be temporarily reduced if your earnings exceed certain annual limits. Once you reach your FRA, there are no limits on how much you can earn, and your benefits will not be reduced.

How do I find out my estimated Social Security benefits?

You can find your estimated Social Security benefits by creating an account on the Social Security Administration's website at ssa.gov/myaccount. This online portal provides personalized estimates based on your earnings record at different claiming ages.

Are Social Security benefits taxable?

Yes, a portion of your Social Security benefits may be subject to federal income tax if your "combined income" (adjusted gross income + tax-exempt interest + half of your Social Security benefits) exceeds certain thresholds. Some states also tax Social Security benefits.

What is the Full Retirement Age (FRA) for Social Security?

Your Full Retirement Age (FRA) is the age at which you are entitled to receive 100% of your Primary Insurance Amount (PIA). It ranges from 66 to 67, depending on your birth year. For anyone born in 1960 or later, the FRA is 67.

What happens if I delay claiming Social Security past my Full Retirement Age?

If you delay claiming Social Security benefits past your Full Retirement Age (FRA) up to age 70, your monthly benefit will increase by 8% for each year you delay. These are called Delayed Retirement Credits (DRCs) and result in a permanently higher monthly payment.

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