Social Security Retirement

At what age can I start collecting Social Security retirement?

You can start collecting as early as 62 (at a reduced rate), at full retirement age (66-67 depending on your birth year, at your full benefit), or as late as 70 (at the maximum rate — 8% higher per year past full retirement age, up to a 32% increase at 70 vs. full retirement age).

How much will my Social Security retirement benefit be?

Your benefit is based on your Average Indexed Monthly Earnings (AIME) over your 35 highest-earning years. If you worked fewer than 35 years, zeros are averaged in. Create a free My Social Security account at ssa.gov to see your personalized estimated benefit at different claiming ages.

Can I work and collect Social Security at the same time?

If you are below full retirement age, the earnings test applies: for 2024, SSA withholds $1 of benefits for every $2 you earn above $22,320. In the year you reach full retirement age, $1 is withheld per $3 earned above $59,520. After full retirement age, there is no earnings limit — you can earn any amount with no benefit reduction.

Can my spouse receive Social Security based on my record?

Yes. A spouse who is 62 or older can receive up to 50% of the worker's primary insurance amount. A divorced spouse married for at least 10 years can also receive spousal benefits. The spousal benefit does not reduce the worker's own benefit. A surviving spouse can receive 100% of the deceased worker's benefit.

Is Social Security taxable?

Up to 85% of Social Security benefits may be taxable at the federal level if your "combined income" (AGI + non-taxable interest + 50% of SS benefits) exceeds $25,000 (single) or $32,000 (married filing jointly). Below these thresholds, benefits are not taxable. Most states do not tax Social Security.