Age at which you receive Social Security benefits affects monthly amount
If you are interested in earning a larger Social Security retirement check each month, then it is recommended to put off obtaining a check until you surpass the official retirement age.
The official retirement age is 62-years-old. You are considered to be at your full retirement age when you are between 65-years-old and 67-years-old, depending on your birthday. If you decide to collect your retirement benefits as soon as you turn 62, you will be collecting a smaller amount each month.
By choosing to wait until you reach your full retirement age, you will be earning a significantly larger amount on a monthly basis. The Social Security Administration said that not waiting until full retirement age can reduce the amount of your retirement benefits by a total of 30 percent.
Please contact the Indiana long-term disability lawyers of the Hankey Law Office by calling (800) 520-3633 if you or someone you love needs help filing for long-term disability benefits.