3 Things That Affect When You Should Apply for Social Security
The decision to file for Social Security isn't one to be taken lightly. That's because while your benefits themselves are calculated based on how much you earned during your top working years, the age at which you first claim those benefits could cause them to go up, go down, or stay the same.
The Social Security Administration designates a full retirement age (FRA) for all recipients based on when they were born. If you first file for benefits upon reaching that age, you'll get to collect them in full, without a reduction or boost. Here's what full retirement age looks like based on the year you were born:
Year of Birth
Source: Fool.com
