When Do People Start Collecting Social Security?

March 29, 2024
An elderly couple and a dog are sitting on the beach, looking at the ocean.

There's no "right" age to begin receiving Social Security retirement benefits.

It's a personal decision based on multiple factors, including how long someone wants to work and how much retirement income is needed. Workers are entitled to full benefits at their full retirement age (FRA) — 66 to 67, depending on year of birth. Claiming before FRA (as early as age 62) will result in a permanently reduced benefit, while claiming later will result in a permanently increased benefit due to delayed retirement credits, which can be earned up to age 70.

A couple of people are sitting next to each other with a dog and a graph about men and women retirement age.

All Securities Through Money Concepts Capital Corp., Member FINRA / SIPC

11440 North Jog Road, Palm Beach Gardens, FL 33418 Phone: 561.472.2000

Copyright 2010 Money Concepts International Inc.

Investments are not FDIC or NCUA Insured

May Lose Value - No Bank or Credit Union Guarantee

This communication is strictly intended for individuals residing in the state(s) of MI. No offers may be made or accepted from any resident outside the specific states referenced.

Prepared by Broadridge Advisor Solutions Copyright 2020.

A woman is looking at her cell phone with a surprised look on her face.

Peer-to-Peer Payments Are Popular, but Be Careful

May 17, 2025
Most P2P transactions go smoothly, but what happens when something goes wrong?
A close up of a stock chart on a computer screen.

Fine-Tuning with Sector Funds

May 17, 2025
Stocks in the S&P 500 are classified by 11 sectors, each of which responds differently to market conditions.
A man and a woman are sitting at a table talking to a woman.

Will You Pay a Medicare Surcharge?

May 17, 2025
Medicare is a federal program that provides health insurance to retired individuals, regardless of their medical condition, and certain younger people with disabilities or end-stage renal disease.
A man in a purple suit is holding shopping bags in front of a store window.

State and Local Sales Tax Across the Map

May 17, 2025
Among the 46 states (and the District of Columbia) with a state and/or local sales tax, the combined state and average local sales tax rates range from about 1.8% to 10.2%.
Show More