Senior Living / ArcaMax

Social Security Q&A: Finding the right age to start collecting benefits

Q: I've been planning my retirement throughout my career, and I'm finally nearing the age when I can stop working. What is the earliest age I can start receiving Social Security retirement benefits? A: You can receive Social Security retirement benefits as early as age 62. Keep in mind that if you retire at age 62, we'll reduce your benefits by as much as 30 percent of what you'd get if you wait until your full retirement age. If you wait until your full retirement age (66 for people born between 1943 and 1954), you'll get your full benefit. You can also wait until age 70 to start your benefits. Then, we'll increase your benefit because you earned delayed retirement credits. When you're...

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