First, your benefit is based on your 35 highest-earning years. If you retire early and have fewer than 35 years of earnings, the missing years are filled in as zeros pulling down your average and permanently lowering your monthly benefit. Second, early retirement means forgoing what are often your highest-earning years, which could have replaced lower-earning years from earlier in your career and boosted your benefit further. If you also claim Social Security early at 62 on top of retiring early, you face the permanent early-claiming reduction layered onto an already-reduced base benefit. Early retirement can absolutely be the right choice, but it demands careful planning to account for a longer retirement horizon, lower guaranteed income, and a larger gap to fund from personal savings. Moore Invested helps early retirees build income bridge strategies and optimize Social Security timing around their actual retirement date.

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What Are Social Security Benefits?

Social Security benefits are monthly federal payments that replace part of your pre-retirement income—usually alongside savings and workplace accounts, not as your only retirement source.

How Is Social Security Calculated?

Your benefit is based on your 35 highest-earning years, adjusted for inflation, then run through a progressive formula that produces your Primary Insurance Amount at Full Retirement Age.

Social Security at 62, 67, and 70: What’s the Difference?

You can claim as early as 62, at Full Retirement Age (67 for most workers today), or as late as 70—and the age you choose permanently shapes your monthly payment.

Social Security at 62 vs. 70: Which Is Better?

Claiming at 62 brings income sooner; waiting until 70 can lock in a benefit up to 77% higher—with break-even often around age 80 to 82.

When Should I Take Social Security?

The best claiming age depends on your health, work status, other income, spousal benefits, and taxes—not a one-size-fits-all rule.

Benefits of Delaying Social Security

Each month you delay past Full Retirement Age up to 70 adds about two-thirds of one percent to your benefit—roughly 8% per year for life.

What Is the Social Security Earnings Limit?

If you claim before Full Retirement Age and keep working, the earnings test can temporarily reduce benefits until you reach FRA.

Will Social Security Run Out in 20 Years?

Trust fund depletion would not end Social Security—ongoing payroll taxes would still fund most benefits, but planning should not rely on benefits alone.

How Do I Find Out My Social Security Benefit Amount?

Create a free my Social Security account at SSA.gov to view earnings history and personalized estimates at ages 62, Full Retirement Age, and 70.

What Is a Social Security Strategy?

A Social Security strategy is a deliberate plan for when and how to claim so you maximize lifetime income—not just filing at the earliest eligible age.

Social Security and IRA Withdrawals

Traditional IRA withdrawals count toward combined income and can trigger federal tax on up to 85% of your Social Security benefits.

How Does Retiring Early Affect Social Security?

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