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When applying for social security benefits timing is everything. ... Benefits are reduced up to 30% if you claim benefits at age 62 versus full retirement age. You can receive even more if you ...
In the middle of that eight-year window is your full retirement age (FRA), otherwise known as the age when you can claim your complete monthly Social Security benefit without a reduction. FRA is ...
The question of when to apply for Social Security benefits runs much deeper than following a simple timeline, however. ... at age 62, you’re locking in a permanent 30% reduction in your monthly ...
Data source: Social Security Administration. Chart by author. Here's the maximum possible 2025 Social Security benefit at 62, 67, and 70. Earning a high salary throughout your career is just one ...
The earliest you can claim Social Security benefits is age 62. In 2021, about 29 percent of newly retired workers claimed their retirement benefits at age 62, according to the Congressional ...
A separate analysis from the Center on Budget and Policy Priorities found that the poverty rate for adults aged 65 and above would be nearly four times higher if Social Security didn't exist -- 10 ...