Social Security Retirement Age: When Can You Actually Start?

social security retirement age

Retirement is an exciting time for many people. You leave behind the shackles of your daily job and open yourself up for relaxation as well as new opportunities. Depending on your age, social security plans take up different pathways. It feels near yet so far after you reach a certain age. This article will tell you either to rein in on that urge or let go of it. Let’s find out the advantages and disadvantages of retiring on the basis of the following age groups:

Early retirees: Age 65 or below

A woman wearing a dress

This age is where you can take a chance and explore all the things which you had put up for after retirement while being young at heart. According to research, retirement leads to health improvement and life satisfaction. If you are burning out in the current job, retiring before the usual age can seem to be tempting. Even the average age of men retiring is 64, and that of women is 62. 

The major issue to handle here is how much financial back up you have through various policies and investments you have made your whole life. Social security gives you the freedom to start claiming benefits at the age of 62 but with conditions applied to it. The policymakers give maximum benefits to late retirees so as to extend working lives. 

Social security avails to cash out 75% of the full amount for the early retirees. Depending on your expenditure, this might just be enough, or you can plan to retire with a part-time job with less stress to make up for it. 

Also, Medicare starts at the age of 65. Until that age, you might have to buy health insurance with your own money.

Normal retirees: Age 66-70

hands of a person

During this age, you can have the best of both worlds. Maximum social security benefits are claimed, and you can enjoy your life without a need to work anymore. Many policies also mature in this time frame of your working life which gives you the ability to have multiple options to support your expenditure. Social security satisfaction can have a huge impact on the savings and will make the rest of the retirement stress-free. 

Late retirees: Age 70 and above

This age group is for extremists—people who absolutely love their job and wish to work till their last breath. And people who have not planned for their retirement and don’t have an option other than to work. There are lots of people who don’t have sorted out their retirement plans and have less than a year’s worth saving in their account.

Social security benefits are 132% of the full amount for this age group. You will never have to worry about your finances and live lavishly if you have planned your resources well. 


You can start to plan your retirement as soon as you start your first job. How you plan to invest your money to plan for your future, especially when you want some peace and rest, will help to decide when you can retire.

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