To get the most out of Social Security, you should always start collecting your benefits as soon as possible.
Once you start collecting Social Security benefits, your payments are adjusted for inflation every year.
A person can work and still get a Social Security retirement benefit check in the mail at the same time.
A former spouse can receive benefits based on the employment history of an ex-husband or wife if they were married for 5 or more years.
You’ll get a lump-sum benefit from Social Security if you file at age 62 but don't actually start collecting benefits until later.
Minor or dependent children are eligible for Social Security benefits if one or both of their parents is of retirement age.
At what age are most people first eligible to receive Social Security retirement benefits?
Who can qualify for Social Security retirement benefits?
Anyone who earns a paycheck.
Anyone who earns a paycheck, as well as their spouse.
State, federal or local government workers and their spouses and minor children.
Any worker who has paid FICA taxes for 40 quarters (or 10 years), and his or her spouse and minor children.
What’s the basis for calculating an individual’s Social Security benefits?
Benefit amounts are based on a person’s final 5 years of employment income.
Benefit amounts are based on a person’s total net worth.
Benefit amounts are based on a person’s highest 35 years of employment income.
Benefit amounts are based on a person or couple’s total household income.
How long do you generally have to work in order to someday collect Social Security?
A minimum of 25 years
At least 35 years
A minimum of 5 years
At least 10 years