Key Points The age you file for benefits will directly impact your monthly benefit amount. Most U.S. adults can't correctly name their full retirement age. If you're unsure of your FRA, it could result in collecting less than you expect from Social Security. The $23,760 Social Security bonus most retirees completely overlook › Claiming Social Security benefits is an exciting step in your retirement journey, especially if you're retiring at the same time. It's more important than ever, though, to ...

Core Points - The article discusses the strategic decision of when to claim Social Security benefits, particularly focusing on the year 2026 as a potential filing year for individuals turning 62 or older. Group 1: Reasons to Claim Social Security in 2026 - Individuals turning 70 in 2026 should claim Social Security, as delaying beyond this age does not yield additional benefits and could result in financial loss [3][4]. - If retirement savings are sufficient to cover living expenses, claiming Social Security early can provide additional funds for personal goals, such as purchasing property or traveling [5][6]. - The decision to claim Social Security should consider both financial readiness and the potential impact on mental and physical well-being [7].

Key Points You may be gearing up to claim Social Security in 2026. If you're turning 66 next year, you won't be able to collect your monthly benefits in full. You may want to wait another year -- or even longer -- to sign up. The $23,760 Social Security bonus most retirees completely overlook › People have a tendency to celebrate big birthdays like 60 and 65. People's 66th birthdays might sometimes get swept under the rug. But 66 has long been a big deal to older Americans for one key reason -- i ...

Core Points - The full retirement age for Americans born in 1960 or later is 67, although benefits can be claimed as early as 62 or as late as 70 [1] - Working after full retirement age can potentially increase Social Security benefits if earnings exceed the top 35 years of income [3][4] - If benefits are claimed before full retirement age and the individual continues to work, benefits will be temporarily reduced based on earnings [5][6] Summary by Sections Retirement Age and Benefits - Full retirement age is 67 for those born in 1960 or later, with the option to file for benefits between ages 62 and 70 [1] Impact of Working on Benefits - Continuing to work after full retirement age is treated similarly to working before that age for benefit calculations, as Social Security taxes are still paid on earnings [3] - Actual benefits will only increase if the earnings during this period are among the top 35 years of earnings [4] Temporary Reductions in Benefits - If benefits are claimed before full retirement age and the individual works, benefits will be reduced by $1 for every $2 earned above $23,400 in 2025 [5] - For those reaching full retirement age in 2025, the reduction changes to $1 for every $3 earned above $62,160 until full retirement age is reached, after which there are no reductions [6]