Social Security FAQs
Social Security is a complex topic which affects how financially secure you and your loved ones will be during your golden years. It’s important to understand your full retirement age, how to manage your benefits and how your payment is calculated to get the most out of your Social Security benefits.
- Written by Lindsey Crossmier
Lindsey Crossmier is an accomplished writer with experience working for The Florida Review and Bookstar PR. As a financial writer, she covers Medicare, life insurance and dental insurance topics for RetireGuide. Research-based data drives her work.Read More
- Edited BySavannah Hanson
Senior Financial Editor
Savannah Hanson is a professional writer and content editor with over 16 years of professional experience across multiple industries. She has ghostwritten for entrepreneurs and industry leaders and been published in mediums such as The Huffington Post, Southern Living and Interior Appeal Magazine.Read More
- Published: March 3, 2023
- Updated: March 8, 2023
- 8 min read time
- This page features 4 Cited Research Articles
- Edited By
- Your full retirement age, the age when you get 100% of your Social Security benefits, is calculated based on the year you were born. If you were born after 1960, you reach your full retirement age at 67.
- There are different qualifications for retirement and disability benefits.
- You will receive your Social Security payment on one of three Wednesdays. The date you were born determines which Wednesday you get paid.
- Marriage can affect your survivors and Supplemental Security Income benefits.
- You can continue to work and collect Social Security benefits.
Your full retirement age (FRA), which is set by the Social Security Administration, plays a crucial role in your Social Security benefits. If you wait to collect your benefits after you reach your FRA, you will maximize your benefits.
Payments and Deductions
There isn’t one day where everyone receives their Social Security payment. There are different specified days when payments occur, which vary depending on your date of birth and which benefit you’re receiving.
The payment amounts also fluctuate, depending on when you want to retire. You will face deductions if you decide to retire early.
Social Security benefit calculations are complex — there are multiple ways to maximize your payout. Learn how benefits are calculated, along with what the annual cost-of-living-adjustment is.
While your family doesn’t typically affect retirement or disability benefits, they do play a large role in survivors benefits. Learn more about how your family can affect your benefits. In some cases, you can even lose your benefits altogether.
Your work and pensions can affect your Social Security benefits. For example, working while collecting benefits could have a negative or positive influence on your benefit amount. You may also face limitations if you choose to work in another country.
Learn more about the Social Security Administration (SSA) to best understand how they’re funded and how long benefits can be paid out. There are important resources provided by the SSA, like free Social Security card replacements.
4 Cited Research Articles
- Social Security Administration. (2023, January 3). What Is the Maximum Social Security Retirement Benefit Payable? Retrieved from https://faq.ssa.gov/en-us/Topic/article/KA-01897
- Social Security Administration. (2023, January). How Work Affects Your Benefits. Retrieved from https://www.ssa.gov/pubs/EN-05-10069.pdf
- Social Security Administration. (2023). Latest Cost-Of-Living Adjustment. Retrieved from https://www.ssa.gov/oact/cola/latestCOLA.html
- Social Security Administration. (2022, December 30). If I Get Married, Will It Affect My Benefits? Retrieved from https://faq.ssa.gov/en-us/Topic/article/KA-02172
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