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Applying For Social SECURITY

Deciding exactly when to retire is a personal decision. However, if Social Security is your only source of retirement income, you�ll want to contact them about the best time to start collecting your benefits.

You can start your Social Security retirement benefits when you turn age 62, but for anyone born after 1960, the government defines age 67 as full retirement age. If you choose to take the money early, your monthly income will be lower than if you wait until full retirement age.

When you decide at what age you'd like to retire, contact Social Security in advance and ask them which month is best for you to start claiming benefits. Believe it or not, the month you choose could mean higher benefits.