Taking Social Security Before Full Retirement Age

March 26, 2019
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You may have already decided that you’re taking Social Security as soon as you’re eligible, 62 for most. Or you may be head strong about waiting until the oldest possible age, 70 for most.  However, several factors should be considered in your financial plan before making the decision, such as family longevity, other income such as pension or rental income, and available assets such as IRAs or stocks.

Once you get past when to take benefits, now you can calculate what that amount will actually be. First, find out when your full retirement age (FRA) is. There are 3 time periods to be aware of* –

Over 36 months prior to FRA - .42% reduction per month

Within 36 months of FRA - .56% reduction per month

Months after FRA until age 70 - .67% INCREASE per month


Disclaimer: Alex Voorhees and Reston Wealth Management do not provide legal, accounting or tax advice. This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor. The opinions voiced in this article are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. No strategy assures success or protects against loss.  The Social Security Administration alone makes all final determinations on your eligibility for benefits and the benefit amounts.  You should consult with your local Social Security Office before acting upon any information provided.


  1. “Benefit Reduction for Early Retirement.” Reports, Facts and Figures | Press Office | Social Security Administration, Social Security Administration, 2018, ssa.gov/oact/quickcalc/earlyretire.html.
  2. “Your Full Retirement Age: The Most Important Thing About Social Security.” Social Security Intelligence, 2018, socialsecurityintelligence.com/your-full-retirement-age-the-most-important-thing-about-social-security/.