Retirees are eligible to start receiving their Social Security benefits as early as 62 years old, as long as they have earned enough credits. Credits are earned towards your Social Security benefits every year that you work. You have to have worked for 10 or more full years in order to qualify for benefits. The full age of retirement is 67 years old. If you decide to start receiving benefits earlier than 67, you run the risk of receiving reduced benefits. Naturally, this makes a lot of people wonder whether or not it is a good idea to start receiving benefits early. The best thing you can do for yourself is consult with a disability attorney in Buffalo, NY, before you make any decisions.
Every employee in the United States is required to put a certain percentage of their salary towards the Social Security benefits system. If you consult with a nearby NY law firm, the first thing they are going to do is sit down with you and figure out what your risk tolerance is. Your risk tolerance is any medical ailment you have that might prevent you from getting to the age of full retirement. While it is a morbid question, you need to ask yourself how long you think you might live. If you are a healthy individual and you think you are going to live a relatively long life, you are going to benefit more by waiting until you reach the age of full retirement. You just need to look at your health and your family history.
Statistics show that more and more Americans are opting to receive their Social Security benefits earlier and for a reduced amount. The instant gratification that you will feel when you start receiving those benefits you worked for years to receive is the biggest reason to blame for people who are so eager to start receiving that money that they have a hard time waiting five years to receive the most they possibly can. By consulting with a disability attorney in Buffalo, NY, such as Antonowicz Group, you will be able to figure out whether it is in your best interest to start collecting early or if you should wait until you fully retire. People seeking legal help can visit them from Rochester, Rome, Buffalo, Utica, and other areas of New York.
