New to Collecting Social Security? 3 Things You Need to Know
Though you're not entitled to your full monthly Social Security benefit until you reach full retirement age (FRA), which falls somewhere between 66 and 67, depending on your year of birth, many seniors opt to file at the earliest possible age of 62 and receive their benefits sooner. There's also the option to delay benefits past FRA and boost them in the process, all the way until age 70. But no matter how old you are when you first start collecting Social Security, there are certain rules you should be aware of. Here are some important ones.
Many seniors are shocked to learn that their Social Security benefits aren't theirs to keep in full. Rather, those benefits are often subject to taxes.
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Source Fool.com
