A lot of people who attempt to retire on Social Security alone end up having to cut corners. But for those who are eligible for the program's maximum monthly benefit, retiring on just Social Security doesn't paint such a bleak picture.

Seniors get a choice as to when to file for Social Security. You’re allowed to sign up at any point once you turn 62. And if you wait until full retirement age (FRA), you’ll get your complete monthly benefit without a reduction.

The decline of pensions as a source of retirement income leaves newly minted retirees in a precarious position: They are potentially more dependent on Social Security to make ends meet.  New research from an employee benefit nonprofit seems to provide a stark illustration of that trend.

The Social Security Administration assigns everyone a full retirement age (FRA) based on their birth year. It's 67 for most workers today, though some older adults have FRAs as early as 66. You're allowed to apply sooner than this, but if you do, it's considered claiming early.

If you’re like most seniors, you’ll rely on  Social Security to provide a good portion of your income once you retire. But, it can be hard to figure out exactly what role Social Security will play in supporting you if you don’t know how much money you’ll get from the benefits program.

The first round of February’s Social Security payments, worth up to $5,108 for the highest-income earners who retire at age 70, will go out to the first group of retirees in four days. Here is all you need to know about this month’s Social Security payments, which go out in three rounds.

Spousal benefits are worth up to one-half of what your partner qualifies for at their FRA. You can claim these benefits early, but you lose 25/36th of 1% per month for up to 36 months and five-twelfths of 1% per month thereafter. There's also no delayed retirement credit for applying for spousal benefits after your FRA.

Social Security can generate real income. The more you earned during your working life, up to each year's income caps, the more you receive in benefits during your retirement. In 2024, someone with maximum credits who waits until age 70 will receive almost $60,

Although many Americans have traditionally envisioned retirement age as 65, full retirement age is actually 67 for those born in 1960 or later, according to the Social Security Administration

Retirement is one of the biggest milestones in an American’s life. The promise of Social Security benefits is a major financial relief, but the age at which you choose to retire can significantly impact your monthly check.