Social Security Checks In 2023: Things You Need To Know To Claim Them!

When approaching retirement, a beneficiary must consider the things they need to know to be to claim the Social Security checks in 2023. In this article, read and find out what are these things you need to know about Social Security!

Social Security Checks in 2023 [Photo: GOBankingRates]

Full Retirement Age

According to Walters, a beneficiary’s full retirement age is based on their birth year and is when the beneficiary is eligible to receive the Social Security checks in 2023. Nonetheless, a beneficiary can start receiving the benefits as early as the age of 62. However, by doing so, the amount of monthly benefits will be reduced based on how many months it is before the beneficiary’s full retirement age.

On the other hand, a beneficiary can also choose to delay receiving the Social Security checks in 2023. This means that the amount of monthly benefits will increased by two-thirds of 1% for every month until the age of 70.

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Social Security Checks in 2023 Amount

According to Markowitz, to be able to know how much will be received from the Social Security checks in 2023, a beneficiary must head to the Social Security website, create an account, and check the earnings record.

This is because the earnings record will state the beneficiary’s projected monthly benefits based on whether they have decided to claim them early, on time, or delayed. To be able to know how much will be received in the Social Security checks in 2023 will help a beneficiary plan how much they would need from other sources like IRA or 401(k).

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