While 91% of survey respondents said they’re at least somewhat confident in their Social Security knowledge, only 7% could identify the factors that determine a maximum benefit. Here's two of the factors: Work history. Your benefits are based on average indexed monthly earnings during the 35 years in which you earned the most. Age. While you can start receiving benefits as early as age 62, you are not entitled to your full benefit until you reach your full retirement age, which varies based on birth year, and to get the maximum benefit you would have to wait until age 70. For more details go to yoursafemoneyshow.com.
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