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10 Mistakes That Reduce Your Social Security Payments

March 10, 2026 · Personal finance
A hand pointing at a bar chart on a tablet comparing different retirement claiming ages.
A hand points to a bar chart on a tablet, illustrating how claiming age impacts monthly payments.

At a Glance: Claiming Age Comparison

To visualize the profound impact of timing, review how a baseline $2,000 monthly benefit at a Full Retirement Age of 67 changes depending on when you submit your application.

Claiming Age Monthly Benefit % of FRA Benefit Impact on Survivor Benefit Earnings Test Applies?
Age 62 $1,400 70% Locks in permanent severe reduction Yes, strict limit
Age 67 (FRA) $2,000 100% Provides standard baseline benefit No limit after birth month
Age 70 $2,480 124% Provides maximum lifetime benefit No limit
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