Table of Contents
When can I collect Social Security if I was born in 1951?
If you were born between 1943 and 1954 your full retirement age is 66. You can start your Social Security retirement benefits as early as age 62, but the benefit amount you receive will be less than your full retirement benefit amount.
What is the maximum Social Security benefit at age 62?
In 2021, the maximum amount you can get in benefits if you claim at age 62 is $2,324, but if you qualify for the maximum and your full retirement age is 66, then waiting until then to begin your benefits entitles you to $3,113 per month. That’s a big increase for waiting five years or less to file for Social Security.
What is the earliest age you can collect Social Security benefits?
Starting Your Retirement Benefits Early. You can start receiving your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits when you reach your full retirement age. If you delay taking your benefits from your full retirement age up to age 70, your benefit amount will increase.
How much will you receive in Social Security benefits at age 66?
For example, a worker with a $1,000 benefit at her full retirement age of 66 would receive $750 a month if she starts her benefit at age 62, or $1,320 a month if she delays until age 70. Married couples have two lives to plan for.
When should you claim your Social Security retirement benefits?
You can start receiving your retirement benefit as early as age 62, or as late as age 70. If you claim it early (before your full retirement age), your monthly amount will be reduced. On the other hand, if you delay claiming your benefit, your monthly amount will be increased for each month of delay.
What happens to my Social Security retirement age at 70?
At 70, you will get the maximum amount of benefits that you can get from Social Security. 6 It does not make sense to delay your Social Security retirement age past 70 because your benefit amount will not increase.