Social Security Benefits

While Social Security actually encompasses several benefit categories, our focus here is on Social Security retirement benefits. Here are the first things to know:

  • You have several options in deciding when to collect Social Security. In general, the longer you wait to collect Social Security, the more money you’ll get in your monthly payment.
  • In order to obtain Social Security in retirement, you must be at least 62 years old. However…
  • In order to get your “full” Social Security benefit, the retirement age is currently 66. So, if you retire before 66, you will get a smaller monthly Social Security benefit than if you wait until you are 66.
  • If you delay getting Social Security until you are older than 66, your monthly payout will increase.

You can apply for Social Security retirement benefits online at https://secure.ssa.gov/iCLM/rib.

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