I turn 62 next month and have been paying into social security since I was 15. My wife will be 64 next fall and has some physical disabilities. We both still work. My question is when you look at what they send you it says how much you will get at 62 and how much you get when you hit 66. Are you stuck at the same amount regardless of when you start social security regardless of starting at 62, 63, 64 or 65 or is there an incremental increase along the way. thanks for the help.
Basically, you'll permanently loose 8% for each year you are under your "full retirement age" (Google "full retirement age" and determine yours). For each year OVER your "full retirement age", you'll get 8% more for each year (up to age 70). This is done so that each individual will receive the same amount over their lifetime regardless of when they start collecting social security. I started collecting SS at age 70 (still working) and save each month's check.
