If you were born anytime between 1960 and 1970, your retirement journey is about to take a major step forward. For many Americans in this age group, the long-anticipated moment of qualifying for Social Security is finally arriving. But before you apply, there are a few key updates and numbers you’ll want to know—because how and when you apply can make a huge difference in what you actually take home each month.
Let’s break it all down in a way that’s clear, honest, and easy to understand.
The Big Shift: Full Retirement Age Is Now 67
Years ago, you may have grown up thinking 65 was the magic number for retirement. That was true—for a long time. But back in 1983, lawmakers decided that because people were living longer, the Social Security system needed to adjust.
Fast-forward to now, and if you were born in 1960 or later, your official full retirement age is no longer 65—it’s 67.
This matters because full retirement age (FRA) is when you can start collecting 100% of your earned Social Security benefits. If you take benefits earlier, you’ll get less every month for the rest of your life.
What If You Want to Retire Early?
You don’t have to wait until 67 to start receiving Social Security. You can still apply as early as age 62. But there’s a catch: doing that means you’ll receive a smaller monthly check—about 30% less than what you’d get if you waited until full retirement age.
So let’s say your full benefit at age 67 is $2,000 per month. If you apply at 62, you’d receive around $1,400. It’s permanent, too—those early reductions don’t go away later.
That said, for people who need the money now or don’t expect to live into their 80s or 90s, early retirement can still make sense. It’s about finding what works best for your situation.
How Waiting Can Pay Off
Now here’s something many people don’t realize: you can actually boost your Social Security benefit by waiting past your full retirement age. For every year you delay, up until age 70, your benefit increases by about 8%.
So if you were set to receive $2,000 a month at 67, you could bump that up to roughly $2,480 per month if you wait until age 70. That adds up to thousands more each year—and tens of thousands more over time.
So, How Much Will You Get?
The amount you’ll receive depends on how much you earned during your working years, how long you worked, and when you start taking benefits.
Here are some estimates for 2025:
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The average monthly benefit for someone retiring at 62 is around $2,710.
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If you wait until age 70, you could collect up to $5,108 per month, depending on your earnings history.
The Social Security Administration offers online calculators so you can get a personal estimate based on your actual work record.
How to Apply (It’s Easier Than You Think)
If you’re ready to get started, applying for Social Security is more straightforward than many expect.
You can:
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Apply online at SSA.gov
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Call your local Social Security office
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Visit in person by making an appointment
It’s recommended to start the process about three months before you want your payments to begin. That gives time for paperwork and verification.
What Should You Do Next?
This is your time. If you were born in the 1960s, you’ve spent decades working, saving, and preparing for retirement. Now that Social Security is within reach, take the time to plan it right. Think about your health, your savings, and whether you’re still working.
There’s no one-size-fits-all answer, but knowing the facts puts you in control.
And if you’re not quite ready to apply, that’s okay too. Use this time to look at your options, check your estimated benefit, and talk with a financial advisor if you have questions.
In Summary
For Americans born between 1960 and 1970, Social Security eligibility is finally here. But timing and choices matter. Whether you’re thinking about early retirement, planning to wait, or somewhere in between, being informed is the best step you can take.
After all, this isn’t just a government benefit—it’s the result of your life’s work.
