Social Security Benefits for Those Turning 66 in 2025: Know All Benefits & More Details
Social Security Benefits for Those Turning 66 in 2025
Full Retirement Age (FRA) for 1959 births is 66 years and 10 months. If you age 66 in 2025, you'll need to wait 10 months to attain FRA and collect 100% of your projected Social Security payments.
Benefits of Delaying Retirement
Social Security benefits can be sought at 62, but they permanently lower monthly payments.Claiming at 62 reduces benefits by 30%, which might impair your finances, especially during inflation or unexpected bills.
Maximum Benefit at FRA in 2025
Starting benefits at 66 years and 10 months in 2025 will peak out at $3,822 per month. The 2025 COLA is not included in this number. Social Security payouts are adjusted annually for inflation and increased costs of living.
Cost of Living Adjustment (COLA)
The 2025 COLA is expected to be 2.63%. COLAs are meant to maintain Social Security benefits' purchasing power, but they typically fall short of inflation, leaving pensioners with less spending power.
Using the Social Security Statement
Check your Social Security Statement online for a benefit estimate. This pamphlet details your estimated monthly payments at different ages, handicap eligibility, and beneficiaries for your spouse and children following your death.
Using the Social Security Statement
Early filing gives quick cash, but deferring benefits might boost monthly payouts and provide financial security later. Knowing your FRA and the repercussions of delaying benefits will improve your financial decisions.
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