Don’t Leave Money on the Table

The Maximizing Your Social Security Benefits Information Hub

You’ve been paying into Social Security your whole working life. Now it’s your turn to get paid, but how and when you claim can make a big difference. Whether you’re years away from retirement or already eligible, this guide will help you understand the rules, avoid common mistakes, and make choices that work for your life, your income, and your legacy. Because let’s face it: no one wants to accidentally shortchange their future self.

Social Security

Table of Contents

Key Things To Know

Claiming Social Security isn’t just about hitting a certain age. It's about making smart, informed choices that reflect your income, goals, and family situation.

  • Timing matters: Claiming early can reduce your benefit for life, while waiting up to age 70 increases your monthly amount significantly.
  • Full retirement age varies: It’s not 65. For most people today, it's between 66 and 67. The age you file determines whether you get a reduced, full, or increased benefit.
  • Spousal benefits can boost your income: You may be eligible to claim based on your spouse’s work record, even if you didn’t earn enough credits yourself.
  • Divorced? You might still qualify: If your marriage lasted at least 10 years and you haven’t remarried, you may be eligible for benefits on your ex’s record.
  • Working affects your benefits: If you earn too much before full retirement age, your Social Security checks could be temporarily reduced.
  • Yes, Social Security can be taxed: Depending on your income, up to 85% of your benefit may be subject to federal taxes.
  • There’s a breakeven point to consider: Waiting to claim can pay off over time, but it depends on how long you live and how you plan to use your income.
  • Get a personalized strategy: Every household is different. A thoughtful claiming approach can mean more money for you and your loved ones over time.

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Frequently Asked Questions

Social Security can feel complicated, but the most common questions have surprisingly straightforward answers. Here’s what people like you often ask.

It depends on your goals. You can start as early as 62, but your benefit will be permanently reduced. Waiting until your full retirement age or up to age 70 increases your monthly payment.

Your full retirement age depends on the year you were born. For most people, it falls between 66 and 67. This is the age when you can receive 100 percent of your earned benefit.

Yes. If you're below full retirement age, your benefits may be temporarily reduced if your earnings exceed a certain limit. Once you reach full retirement age, you can earn as much as you want with no impact on your benefits.

In many cases, yes. Depending on your total income, up to 85 percent of your benefit may be subject to federal income taxes.

Yes. Married individuals may be eligible for up to 50 percent of their spouse’s benefit. If you're divorced and your marriage lasted at least 10 years, you may still qualify based on your ex-spouse's record.

Claiming before your full retirement age can reduce your monthly benefit by as much as 25 to 30 percent. That reduction lasts for the rest of your life.

Your benefit increases every year you delay after full retirement age, up to age 70. These delayed retirement credits can increase your benefit by up to 8 percent per year.

Yes, but only once. Within 12 months of starting benefits, you can withdraw your application and repay what you've received. After that window, you're locked in.

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Disclaimer: The information provided on this website and by Buried in Work is for general informational purposes only and should not be considered legal advice. Please consult with a qualified attorney or subject matter expert for advice specific to your situation.