You can start receiving Social Security retirement benefits as early as age 62. However, your monthly benefit amount will be reduced if you start receiving benefits before your full retirement age, which is typically between 66 and 67, depending on the year you were born. It’s important to consider the impact of starting benefits early on your overall financial situation before making a decision.

Your Social Security benefit amount is calculated based on your average earnings over your 35 highest-earning years. The Social Security Administration applies a formula to your average earnings to determine your primary insurance amount (PIA), which is the monthly benefit you would receive if you claim at your full retirement age. The PIA is then adjusted if you claim early or delay benefits beyond your full retirement age.

Yes, you can work and receive Social Security retirement benefits at the same time. However, if you haven’t reached your full retirement age, your benefits may be reduced if your earnings exceed certain limits. Once you reach your full retirement age, you can work and earn as much as you want without any reduction in your benefits.

In most cases, you need to have worked and paid Social Security taxes for at least 10 years (or 40 quarters) to be eligible for retirement benefits. However, if you are the spouse or ex-spouse of someone who is eligible for benefits, you may be able to receive benefits based on their work record, even if you have never worked yourself.

Depending on your overall income, a portion of your Social Security benefits may be subject to federal income taxes. If your combined income (including half of your Social Security benefits plus other sources of income) exceeds certain thresholds, up to 85% of your benefits may be taxable. It’s important to consult with a tax professional to determine the tax implications of your Social Security benefits.