Understanding Your Social Security Filing Strategy
Thursday, 25 April 2024, 09:01
Know when your full monthly benefit is yours to claim
While you can absolutely claim Social Security starting at age 62, you won't get your full monthly benefit based on your personal earnings history until full retirement age (FRA) arrives.
For each month you claim Social Security prior to FRA, your monthly benefit is reduced.
Will lawmakers make changes to FRA?
The table above is correct as of this writing, and will likely remain correct for the foreseeable future. However, lawmakers may, at some point, consider a change to FRA for workers born in 1960 or later to address Social Security's pending financial shortfall.
- Considerations for determining the optimal Social Security filing age
- Factors impacting your monthly benefits
- Potential legislative changes affecting the Full Retirement Age (FRA)
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.