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TaxRobin
TaxRobin, Tax Preparer
Category: Social Security
Satisfied Customers: 13344
Experience:  15+ years in tax preparation and instruction
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I turned 62 last month and will get about $700/mo. if I

Customer Question

I turned 62 last month and will get about $700/mo. if I apply for Social Security. I'm retiring from my job December 31 and don't plan to work anywhere else.
Would it be best to file for SS at 62 or wait until 65?
Submitted: 2 months ago.
Category: Social Security
Expert:  TaxRobin replied 2 months ago.

Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

Expert:  TaxRobin replied 2 months ago.

If you start receiving retirement benefits at

  • age 62, you will get 75% of the monthly benefit because you will be getting benefits for an additional 48 months.
  • age 65, you will get 93.3% of the monthly benefit because you will be getting benefits for an additional 12 months.

Only you can decide if you want to wait or start to receive your benefits earlier. Waiting gets you more per month. If you have pension to tie you over then you may wish to wait.