Since it launched in 1935, the Old-Age, Survivors, and Disability Insurance program, better known as “Social Security,” has been part of American retirement planning.

The program is intended to assist citizens with retirement income as early as age 62; however, many people will find it beneficial to delay this income until later.

Social Security considers “full” retirement to occur at either age 66 or 67, depending on your year of birth. Retirement benefits can be collected at any point from age 62 to age 70, but the size of your monthly income is permanently decreased the earlier you take it.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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