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Social Security Check 2023: Best Retirement Age To Receive Maximum Benefits

Social Security Check 2023 [Photo: Yahoo Finance]
Social Security Check 2023 [Photo: Yahoo Finance]

Applicants cannot receive Social Security benefits until they reach the age of retirement. In this article, read and find out when is the best age to retire and receive maximum benefits from the Social Security Check 2023!

Social Security Retirement Beneficiaries [Photo:]

Social Security Retirement Beneficiaries [Photo:]

For the retirement age in Social Security, the minimum age is 62 years old. An applicant cannot claim for the Social Security Check 2023 until the minimum age of 62 is reached. Although the case may be slightly different for beneficiaries with disabilities, the eligibility for the retirement benefits is based on the retirement age of 62 years old as the minimum.

According to Quirós Villalba, it may be appealing for Social Security beneficiaries to start collecting retirement benefits at the age of 62. However, the Social Security Administration (SSA) suggests that doing so might result in a financial disaster.

READ ALSO: Social Security Check 2023: How Retirement Benefits Are Calculated, Distributed

Best Retirement Age to Receive Maximum Social Security Check 2023

According to Smith, the main reason why the SSA suggests that beneficiaries do not claim the Social Security Check 2023 at the early age of 62 is because of the amount of benefits. Claiming the retirement benefits at the age of 62 may result in the Security Check 2023 going down by 30%.

Therefore, in order to receive the full amount of retirement benefits that the beneficiaries have contributed to the SSA, they are advised to apply for retirement at the age of 67. Apart from this, at the age of 65, beneficiaries will also have an access to the Medicare which can save them money in the health department as well.

READ ALSO: Retirement Vs. Spousal: Which Social Security Benefit Offers More?

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