How to Collect Your Social Security

If you are looking for information regarding collecting social security, maybe this will help you. You may claim social security from the ages of 62 to 70 but the longer you choose to wait for the payments to come in, the bigger your check will be.

For those who were born between the ages of 1943 to 1954, full retirement is at the age of 66. So it is best to wait until you are 66 to start collecting social security.

If you decide to start collecting earlier than the recommended age, you will receive less money. So, for example if you sign up for benefits at the age of 62 which is not the retirement age, you may collect $750 a month but if you start collecting at retirement age, you may collect $1,000 a month. If you wait though until you are 70, you may even receive more money a month because of the extra credit you receive for waiting longer to take social security.

It may seem that waiting until you are 70 is the best thing to do but it depends on a multiple of things. It depends on when you stop working, whether or not you are healthy, how much savings you have, whether your spouse earns less or more money, and whether or not you are single or married. If the breadwinner in your home has lost his or her job, it may be best to start collecting so you don’t go into debt.

To start collecting your full retirement benefits, you will need to apply to the Social Security Administration. This should be done at least three months before you want to receive your first payment.

So as you can see, it is best to start collecting payments from social security, when you are of the age of retirement.

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