Social Security Basics: When Should You Start Claiming?

How is Social Security calculated?

Social Security is based on your highest-earning 35 years of income. The longer you work and the more you pay in, the higher your benefit tends to be. You need at least 40 "work credits" (about 10 years of work) to qualify.

Timing matters a lot

• Age 62: The earliest you can start — but your monthly amount is permanently reduced.
• Full retirement age (around 66–67): You receive your full benefit.
• Age 70: If you wait until 70, your monthly amount increases (delayed retirement credits).

In other words, claiming later means more each month. Whether waiting is worth it depends on your health, family needs, and other income.

Questions families often ask

• Spousal benefits: Even a spouse with a short work history may claim on the other's record.
• Income earned abroad: Years worked outside the U.S. usually don't count toward U.S. Social Security.
• Taxes: Social Security can be taxable at certain income levels.

Social Security rules are complex and shape your retirement income for life. Consult a professional and check the official SSA.gov before deciding. This article is for education only.