can you take social security early
With Social Security, you never run out of money. Tom Sightings For many of us â people born between 1943 and 1954 â the regular retirement age is 66. You're eligible for Social Security as early as age 62, but you suffer a penalty if you start then. You can also delay taking benefits until 70, and then you get a bonus.Tom Sightings. The penalty for taking Social Security early is around 7 percent a year, and the bonus for delaying is also about 7 percent a year.If your benefit at age 66 is figured at the average of $1,268 a month, then you'll only receive about $1,180 per month if you sign up at age 65.ith Social Security, you never run out of money. Tom Sightings For many of us â people born between 1943 and 1954 â the regular retirement age is 66. You're eligible for Social Security as early as age 62, but you suffer a penalty if you start then. You can also delay taking benefits until 70, and then you get a bonus.