How do I know when to take Social Security in retirement?

The Social Security Administration allows workers to retire at age 62. However, you must have worked and paid enough taxes to receive monthly pension benefits.

So if you’ve worked all your life but paid no payroll taxes Social security, you cannot file for pension benefits. Make sure you’re earning enough work credits to receive monthly paychecks as a retiree.

Work credits are essential to collection Social security, whether it’s SSDI (disability benefits) or retirement checks. The administration will ensure that you have at least 40 work credits at 62.


This will depend on the year you were born. For example, if you were born in 1960 or later, your full retirement age (FRA) will be 67. However, you can start collecting checks at 62, five years before FRA.

Workers born in 1960 or later must file for Social Security at age 67 to receive the full amount
Workers born in 1960 or later must file for Social Security at age 67 to receive the full amount

If you want to know when you will reach full retirement age, you just need to visit For example, if your date of birth is 1962you will reach full retirement age in 2029

Therefore, you can start claiming Social security retirement benefits in 2024. Is this the best age for it? Maybe not because you will get 30% off.

For example, if you received $1,000 at age 67, you’ll receive $700 at age 62. By filing early, you’re saying goodbye to $300 a month. In just one year, you will lose $3,600. So, it’s your decision and you’ll have to see if you can afford to file at 62 or not.


Luckily, all you have to do is pick up your annual Declaration of social security. The administration will provide you with all the details regarding your future payments depending on the age you submit.

It’s free and you can get it through your my Social security account. Once you check it out, you’ll see that retiring at 70 means getting 24% more per month. Actually, that’s a lot of money, but not everyone is fit and healthy to work until they’re 70.

Just by filing at full retirement age, you can receive 100% of your retirement benefits. Social security will give you 8% extra for every year you delay retirement. So from age 67 to 70 you can get a total of 24%.

If you’re in your 20s or 30s, start saving for retirement. SSA the benefits are just an addition. Make the most of your retirement savings accounts like a 401(k) and invest to get a big nest egg.

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