What to do as retirement nears
Find out how much you'll get from Social Security
Social Security used to send everyone annual statements showing lifetime earnings and expected retirement benefits. Now those paper statements only go to Americans 60 and over.
However, that information is still available online. You’ll need to create an account on the Social Security website. If you run into problems, you can call the agency or schedule a visit at a local office.
You can collect Social Security retirement benefits as early as age 62, but you’ll get less by doing so. You earn more by delaying your retirement. Benefits increase up to age 70. Beyond that, there’s no further benefit in waiting.
Social Security remains the primary source of income for a majority of retired Americans, according to Gary Koenig, an economics analyst for AARP’s Public Policy Institute. It makes sense to start your retirement planning by taking a careful look at what you’ll receive.
Click here for our 6-step guide on when to start collecting Social Security