At Charlie Financial, we help you make informed decisions to add financial security to your retirement. This guide answers questions about when to draw Social Security and what documents you need to apply for benefits.
When Can I Draw Social Security?
You can start getting Social Security checks as early as age 62, or wait until later — up to age 70. When you choose to claim benefits influences how much money you'll get each month. There's no one-size-fits-all answer — the right timing depends on your own needs and situation.
For example: If you'd get $2,000 a month at age 67, claiming at 62 would give you about $1,400 monthly. Waiting until 70 would increase it to about $2,480 monthly.
Social Security Milestones
Your Social Security Options at Different Ages
Age 62: Earliest Option
This is when you can first receive Social Security. Your monthly check will be smaller than if you waited, but you'll get benefits for more years.
Best for: Those with health concerns or who need money right away
Ages 66-67: Full Retirement Age (FRA)
At this age, you get your full benefit amount. Your exact full retirement age depends on when you were born:
- Born 1943-1954: Age 66
- Born 1955-1959: Increases by 2 months each year
- Born 1960 or later: Age 67
Best for: A balanced approach between early income and lifetime value
Age 70: Maximum Benefit
If you wait past your full retirement age, your benefit grows by 8% each year until age 70. There's no reason to wait beyond 70.
Best for: Those in good health and have enough money from other sources for now
Your Decision Checklist
Deciding when to draw Social Security means weighing what you need right now against what you might need down the road. Make your timing decision with confidence by considering:
- Your health and how long people in your family typically live
- How much money you need each month
- Other money you have for retirement
- Your spouse's benefits
- How your benefits might be taxed
- Whether you plan to keep working
- Your overall retirement plans
What Documents Do I Need to Apply for Social Security?
One of the biggest delays at Social Security offices comes from missing paperwork Gathering the right documents before beginning your application saves time and frustration. The SSA has a checklist of items you’ll need, but we’ve simplified it below.
Required Documents
- Birth certificate (original or certified copy)
- Social Security card
- Permanent Resident Card (if not born in the U.S.)
- Military discharge papers (if you served before 1968)
- Recent W-2 forms or tax returns
- Marriage or divorce papers (for spousal benefits)
- Banking information for direct deposit
Tip: Apply about four months before you want to start getting checks. Most online applications take just 30 minutes to complete.
You have three options to apply:
- Online through the Social Security Administration website
- Phone: 1-800-772-1213 (TTY 1-800-325-0778)
- In-person: At your local Social Security office (use the Social Security Office Locator to find your local office — appointments are recommended)
Maximizing Your Social Security Benefits
If you're already collecting Social Security benefits or deciding when to claim, understanding your options can help you make the best choice for your situation.
If You Haven't Claimed Yet
You can start collecting Social Security as early as age 62. Your monthly payment amount depends on when you start. If you claim before your Full Retirement Age (FRA), your monthly checks will be smaller, but you'll receive them for a longer time. If you wait until after your FRA, your monthly payments will be larger.
Already Started Benefits? You May Have Options
If you claimed within the last 12 months and are having second thoughts, you have a one-time option to withdraw your application, repay the benefits received, and restart them later at a higher amount.
Consider Spousal Benefits
If you're married to someone with a higher earning history, you might qualify for up to 50% of their benefit amount — even if you never worked. If widowed, you can receive 100% of your deceased spouse's benefit.
Cost of Living Adjustment
Your benefits will typically increase annually with inflation through a Cost of Living Adjustment (COLA). In 2025, recipients received a 2.5% COLA increase — adding hundreds more to annual benefits. These adjustments help your Social Security benefits keep up with rising prices over time. The adjustments typically appear in your January payment each year, and they’re automatic — you don't need to apply for them.
FAQs: When Can I Draw Social Security?
Is It Better to Collect Social Security at 62 or 67?
Claiming at 62 gives you benefits sooner with smaller monthly checks, which makes sense if you need income now, have health concerns, expect a shorter life expectancy, or need extra money to help you retire before your Full Retirement Age (FRA). You’ll get your full earned benefit amount by waiting, which is a good middle-ground option with no penalty if you continue working.
At What Age Can I Collect 100% of Social Security?
You receive 100% of your earned benefit at your Full Retirement Age (FRA). For those born between 1943 and 1954, FRA is 66. For birth years 1955-1959, FRA increases by two months each year. For those born in 1960 or later, FRA is 67.
Can I Collect Social Security at 62 and Still Work Full Time?
You can collect Social Security at 62 and work full time. But if you earn over $23,400 in 2025, $1 is withheld for every $2 you earn above that. In the year you reach your full retirement age, only the money you earn before your birthday month counts, and they take out $1 for every $3 you earn above $62,160. After full retirement age, you can earn as much as you want, and your benefits won’t be reduced anymore. Plus, Social Security will adjust your payments later to make up for the money they held back.
Is It Better to Apply for Social Security Online or in Person?
Online applications typically process faster and can be completed in about 30 minutes. In-person appointments often require weeks of advance scheduling. If your situation is complex (involving foreign work or survivor benefits), an in-person appointment may be helpful.
What Documents Do You Need to Get Social Security Benefits?
You must have a birth certificate, a Social Security card, and recent tax information. If applying for spousal benefits, include marriage documentation. Non-U.S.-born applicants need proof of citizenship or residency. Military veterans should include discharge papers.
Content in the Customer Resource Center is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice.