Updated July 2025
When and how to take Social Security is one of the most important retirement decisions you’ll make. And with all the rules around spousal benefits, work income, and full retirement age, it’s easy to get overwhelmed.
Understanding the key factors in Social Security benefits can help you make informed decisions about when to start collecting and how to maximize your retirement income. If you need more personalized guidance, check out our retirement planning services to make sure your Social Security strategy aligns with your overall financial plan.
What’s the Earliest Age You Can Start Social Security?
You can start collecting as early as 62, but your monthly benefit will be permanently reduced if you do. Your Full Retirement Age (FRA) depends on when you were born:
- If you were born in 1960 or later, your FRA is 67.
- If you were born between 1943 and 1959, your FRA is 66 to 66 and 10 months (it increases gradually based on your birth year).
- If you were born before 1943, your FRA was 65.
If you delay benefits past your FRA, your monthly check grows by about 8% annually until you reach age 70.
Can You Work While Receiving Social Security Benefits?
Yes—but if you take benefits before your FRA and earn over a certain amount, Social Security will temporarily withhold part of your check. In 2025, that earnings limit is $23,400 (or $62,160 in the year you reach FRA).
The good news? These reductions aren’t permanent. At your FRA, Social Security will recalculate your benefit and credit back the months your check was reduced.
How Do Spousal and Survivor Social Security Benefits Work?
Your spouse can receive up to 50% of your full retirement benefit—but only if they wait until their FRA. If they take benefits earlier, they’ll get a reduced amount.
If you’re divorced, you may still be able to claim a spousal benefit if:
- Your marriage lasted at least 10 years
- You haven’t remarried
- Your ex is eligible for Social Security
If your spouse passes away, you may qualify for survivor benefits of up to 100% of their benefit.
Can You Cancel or Restart Social Security After You Claim?
If you take Social Security early and regret it, you can reverse your decision. You can withdraw your Social Security application within 12 months of claiming, but you’ll need to repay all benefits received.
Alternatively, if you’ve already passed FRA, you can suspend your benefits and restart them later to earn delayed retirement credits.
Why Social Security Should Be Part of Your Retirement Plan
Claiming Social Security is a big step—but it’s just one piece of the retirement puzzle. Coordinating your benefits with other income sources, like investments or pensions, can help support a more sustainable retirement plan.
Whether you’re nearing retirement or just starting to think about it, we work with clients to help align Social Security timing with their broader goals. If you’d like to explore how it could fit into your financial picture, we’re here to talk.
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Jordan Hickey is a CERTIFIED FINANCIAL PLANNER® professional who helps clients create personalized financial plans. Based in Glastonbury and Wilton, CT, Jordan offers guidance on retirement, insurance, investments, and overall wealth management. Schedule a complimentary introductory meeting with Jordan.
This information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete, it is not a statement of all available data necessary for making an investment decision and it does not constitute a recommendation.
Prior to making an investment decision, please consult with your financial advisor about your individual situation. Any opinions are those of the author, and not necessarily those of Raymond James. Expressions of opinion are as of this date and are subject to change without notice.