When Should You Start Collecting Social Security Benefits in Crown Point?

When Should You Start Collecting Social Security Benefits in Crown Point?

Social Security benefits provide retirement benefits, disability benefits, and death benefits to those who have worked in the United States and have paid into the Social Security system. While when you start claiming Social Security disability benefits or survivors’ benefits may be beyond your control, you do have a say over when you start collecting Social Security retirement benefits.

At Harvest Social Security HQ, we provide free workshops to those living in Crown Point and surrounding areas, and can help you to understand when the best time to start collecting your Social Security retirement benefits is.

If You Start Collecting Early…

The Social Security Administration (SSA) provides you with the option to start collecting your Social Security retirement benefits as early as age 62. However, if this is not your full retirement age, then you are collecting your benefits early.

What your “full retirement age” is depends on when you were born. For example, those persons born between 1943 and 1954 have a full retirement age of 66. This means that if you were born during this time period and you start collecting your retirement benefits anytime between age 62 and age 65, you are claiming your benefits early.

While you are allowed to claim your benefits early–and may choose to do so for a number of reasons, including physical or mental health reasons and your ability to work–if you claim your benefits early, your monthly benefit amount will be reduced in respect to the number of months you start claiming benefits before your full retirement age. For example, if your full retirement age is 66, and you start claiming benefits at age 62, your monthly benefit amount will be reduced by 35 percent to account for the fact that you will be claiming your benefit for an additional 48 months.

If You Start Collecting Late….

Just as you have the option to start collecting your benefits early, you also have the option to wait until age 70 (but not later than this) to start collecting retirement. If you wait past your full retirement age to begin collecting your benefits, you may be eligible for delayed retirement credits. This means that your monthly benefit amount will be increased.

Why Knowing When to Start Collecting Benefits Is Important

When you start collecting Social Security benefits could have a very large effect on how much you collect overtime. In fact, if you live until 90 and waited until age 70 to start claiming benefits, you will have received tens of thousands of dollars more than you would have received had you started collecting benefits at at 62.

Learn More By Attending a Harvest Social Security QA Workshop Near You

If you live in Crown Point, making the trip to one of our Harvest Social Security QA workshops will be well worth it. Not only is a Social Security workshop completely free to attend, but it can also provide you with valuable information about when you should start collecting your benefits. You can register for a workshop near you online today.

No Charge to Attend! Seating is limited, so sign up today!

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Contact Address

Harvest Social Security QA 930 W. US-30
Schererville, IN 46375
Phone: (219) 864-5050


Hours: Mon-Fri 9am-5pm CST

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The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. Some of this material was developed and produced by Harvest Financial Planning, LLC to provide information on a topic that may be of interest. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.  Harvest Financial Planning, LLC Is Not Associated With The Social Security Administration Or Any Government Agency.