You can, however, choose to claim as early as 62. If you do so, however, you'll be penalized. Each month before your FRA incurs a penalty of 5/9 of 1% (for the first 36 months prior to turning 67) and 5/12 of 1% (for the next 24 months). All told, you could lose as much as 30% of your intended PIA.

In 2025, the United States will see significant adjustments to Social Security, impacting cost of living adjustments, retirement age, and benefits. Understanding these changes is crucial for those planning their retirement strategy.

In 2024, the life expectancy for someone born in 1959 was 74 for men and 80.1 for women, according to a Social Security report. The report predicts continuing increases in life expectancy, which translates into even more years that beneficiaries will receive Social Security checks.

Social Security is a cornerstone of financial stability for millions of retirees across the United States. Each year, the Social Security Administration (SSA) adjusts benefit amoun

If you were planning to retire next year, double check your math because a law passed in the '80s is annually raising the age when Americans can

You'll have the best chance of staying comfortable in retirement if you have other sources of income to supplement your Social Security benefits.

The Social Security Administration (SSA) can reduce retirement benefits if you claim early or earn too much income while collecting benefits before your full retirement age. Find Out: 8