When Should You Start Your Social Security Benefits?

    by William Reichenstein

    When Should You Start Your Social Security Benefits? Splash image

    An individual can begin receiving Social Security benefits as early as age 62 or as late as age 70. The later someone starts, the higher the level of benefits.

    Most individuals apply for Social Security benefits before attaining Full Retirement Age, which is age 65 for people born before 1938.

    Some people begin benefits as soon as they retire because they do not have sufficient income from sources other than Social Security (such as IRA and 401(k) distributions) to support their lifestyle. However, many people can choose to delay the beginning of benefits. For these individuals, the question is: Is it worth the delay in receiving benefits to receive a higher monthly payment?

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