How Your Claim-Age Affects Your Social Security Payment - Motley Fool
In the simplest terms, the monthly Social Security benefit you get will be largely determined by the age at which you claim relative to your full retirement age (FRA). It also, of course, depends on your lifetime earnings history, but you can’t change that when it comes time to claim your benefits. Your age when you claim, however, is within your control, so knowing how your claim-age affects your monthly payment is (or certainly should be) a crucial factor to help you decide when to claim. This Motley Fool article by Sean Williams discusses this point, but also includes an easy-to-understand table which shows how much your benefit will be cut if you claim before your FRA, and how much it will increase if you wait beyond your FRA to claim. Click here to read more.