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A worker’s PIA reflects the benefit received at full retirement age, however, you can actually start claiming Social Security once you turn 62 years old. But doing so will reduce your benefit .
Calculating your Social Security benefit. The average monthly Social Security benefit for a retired worker is $1,909 (as of January 2024). But that number could be much less if you don’t work ...
Benefits could also be reduced if your early retirement prompts an early Social Security claim. You can claim benefits as early as 62, but this is before your full retirement age when your ...
Seniors may qualify for Social Security retirement benefits if they worked long enough to earn 40 credits (where one credit is defined as $1,810 in earnings in 2025), and you can earn a maximum of ...
Your full retirement age, as defined by the Social Security Administration (SSA), isn’t necessarily the age you stop working. It’s based on your year of birth, which typically works out to ...
However, the age at which you decide to retire significantly affects your Social Security benefit. Early retirement means immediate access to funds but the financial penalty could possibly imperil ...