Oct 10, 2018 · By filing at 62, or any time before you reach full retirement age, you forfeit a portion of your monthly benefit. If you were born in 1963 or later, for instance, filing at 62 could reduce your monthly payment by as much as 30 percent. AARP’s Social Security Benefits Calculator can provide more details on how filing early reduces benefits.

Oct 10, 2018 · If you develop filer’s remorse, Social Security gives you 12 months from the date you applied for retirement benefits to change your mind and cancel that initial claim. You’ll have to repay what Social Security has already paid you, but this way you can refile at full retirement age (or later) and get your full benefit ( or more ).

Nov 16, 2018 · But suppose you started Social Security at 62, for reasons unrelated to health, taking a reduction in benefits for filing before full retirement age (which is 66 and 8 months for people born in 1958, two months later for those born in 1959, and 67 for those born in 1960 or later). Six months later, you are diagnosed with kidney disease.

Oct 10, 2018 · Starting in 2025, appointments are required to apply for benefits or conduct other business in person at a Social Security office. To book a visit, call Social Security's national toll-free number (800-772-1213) or contact your local office directly. To apply for Social Security benefits of any kind while living abroad, contact the nearest U.S ...

Oct 10, 2018 · For reference, the Social Security Administration estimates that the average retirement benefit in 2025 will be $1,976 a month. The maximum benefit — the most an individual retiree can get — is $4,018 a month for someone who files for Social Security in 2025 at full retirement age (FRA), the age at which you qualify for 100 percent of the ...

Dec 23, 2024 · Social Security retirement benefits are primarily based on two factors: your average income over your working life and your age when you claim them. You get to decide when to start collecting benefits, within an eight-year window from age 62 to age 70. The longer you wait, the higher your monthly payment will be.

Oct 10, 2018 · Keep in mind. While you can start collecting retirement benefits at age 62, your payments are reduced if you claim them before reaching full retirement age (FRA), which is 66 and 8 months for someone born in 1958, 66 and 10 months for people born in 1959, and will settle at 67 for those born in 1960 and after.

Nov 21, 2024 · Workers who are at least age 62 and who have worked at least 10 combined years at jobs for which they paid Social Security taxes are eligible for Social Security retirement benefits. In many cases, spouses, widows and widowers, and divorced people are eligible for benefits based on a current or former spouse’s earnings history.

Oct 10, 2018 · Here's why: Regardless of your age when you start collecting SSDI, you receive what you would get if you claimed benefits at full retirement age (FRA) — the age at which you are entitled to 100 percent of the benefit calculated from your average monthly earnings. (FRA is 66 and 8 months for those born in 1958, 66 and 10 months for those born ...

Oct 10, 2018 · 5 Social Security Decisions That Can Be Costly. Social Security can make up a big portion of your retirement income. Maximizing your benefits starts with making the best choices for you, based on your age, marital status, work plans and more. Watch this free AARP webinar for expert guidance on avoiding Social Security pitfalls that could cost ...