Retirement benefits, FRA, COLA, work credits, claiming strategies
Your full retirement age (FRA) for Social Security retirement benefits depends solely on your birth year. If you were born in 1960 or later, your FRA is age 67. For earlier years, FRA increases in two‑month increments from 66 to 67. Birth Year Full Retirement Age 1943–1954 66 years 1955 66 years + 2 months…
Deciding whether to take Social Security at 62 or wait until 70 is one of the biggest financial choices you’ll make in retirement. The math is straightforward: claiming at 62 locks in a permanently reduced benefit, while waiting until 70 earns delayed retirement credits that boost your monthly payment by 8% per year past your…
The short answer: claiming at 62 locks in a 30% permanent reduction from your full retirement age (FRA) benefit if your FRA is 67. Waiting until 67 gives you 100% of your Primary Insurance Amount (PIA). Which is better depends on your health, income needs, work plans, and family situation. There is no single “right”…
Your full retirement age (FRA) for Social Security retirement benefits depends on your birth year – it ranges from 66 to 67. If you were born in 1960 or later, your FRA is exactly 67. Claiming before your FRA permanently reduces your monthly benefit; waiting past FRA (up to age 70) adds 8% per year…
For 2025, the maximum monthly Social Security retirement benefit at full retirement age (FRA) is $4,018. If you delay claiming until age 70, the maximum rises to $5,108 per month; if you claim at age 62, the maximum drops to $2,831. These figures assume you earned at or above the maximum taxable wage base for…
Yes, Social Security benefits are protected from virtually all private creditors under federal law (42 U.S.C. § 407). A credit card company, medical bill collector, or personal lender cannot garnish, levy, or attach your monthly benefit. Government agencies can intercept benefits for unpaid federal taxes, child support, alimony, and certain other debts. Bankruptcy does not…
Yes, you can. As long as you are a U.S. citizen or legal permanent resident (green card holder), your Social Security retirement benefits generally continue no matter where you live. For 2025, the average retired-worker benefit is about $1,976 per month, and that amount stays the same when you move abroad — with a few…
Yes, you can collect Social Security retirement benefits while holding a full-time job. If you are under your full retirement age (FRA), the earnings test may temporarily withhold some benefits. Once you reach FRA, the test ends and you receive your full benefit regardless of earnings. The crucial trade-off: withheld dollars are not lost—they are…
Yes, you can qualify for Social Security retirement benefits after years of low or no earnings. The mechanism works through three distinct benefit types — your own retirement benefit, spousal benefit, and survivor benefit — and the correct choice depends entirely on which computation pays the highest monthly amount. Yes, You Can Still Collect —…
If you’ve never married and have no dependents, your Social Security claiming decision boils down to one question: when do you start collecting your own retirement benefit? Without a spouse or children whose benefits could be affected, there is no spousal or survivor angle to weigh. The sole goal is to maximize the lifetime value…
Social Security benefits will increase by 2.8 percent effective December 2025, with the first higher payment arriving in January 2026. For the average retired worker receiving about $1,976 per month in 2025, that means roughly $55 more each month — raising the typical check to around $2,031. The 2026 cost-of-living adjustment (COLA) was officially announced…
If you’re self-employed and collecting Social Security before your full retirement age (FRA), the earnings test applies to your net earnings from self-employment—not your gross revenue or business write-offs. For 2025, the rule is straightforward: if you’re under FRA for the full year, $1 in benefits is withheld for every $2 you earn over $22,320….
