Reaching 62 is a significant turning point. For many, it signifies the conclusion of a long career. It also means you qualify for Social Security benefits, which serve as a crucial income source for numerous retirees.

Applying for Social Security benefits is an important choice, and reversing it can be complex. If you are thinking about applying for benefits in 2025, here are several important considerations.

1. You must be 62 for the full month to claim benefits

You can submit your application for Social Security benefits up to four months prior to when you wish to start receiving them, but most individuals are not eligible in the month they turn 62. There’s a rule that states you have to be 62 throughout the entire month before you become entitled to benefits.

If your birthday falls on the 1st or 2nd of a month, that birth month is your initial month of eligibility. However, if you were born on any other day, you’re unable to claim Social Security until the following month after your birthday.

It’s important to note that the Social Security Administration pays benefits in the month following when they are owed. For instance, if you turn 62 on March 21, 2025, you’ll be eligible for benefits starting in April 2025, and your first payment will come in May 2025.

Additionally, the specific day you receive your payments is determined by your birth date:

• Born from the 1st to the 10th: Second Wednesday of the month
• Born from the 11th to the 20th: Third Wednesday of the month
• Born from the 21st to the 31st: Fourth Wednesday of the month

In the above scenario, although you turn 62 on March 21, 2025, your first payment won’t arrive until May 28, 2025. Therefore, you’ll need other sources of income to cover your expenses until then.

2. Claiming at 62 may lower your benefits permanently

Every month you claim benefits within the first 36 months before your FRA, your payment will reduce by five-ninths of a percent. If you apply even earlier than that, the reduction increases to five-twelfths of one percent per month. Thus, if you opt for benefits right at age 62, your payments could decrease by 25% if your FRA is 66, or 30% if it’s 67. This could lower the average monthly check of $1,967 in 2025 to about $1,377 monthly.

This doesn’t necessarily mean that claiming benefits early is a mistake. If your life expectancy is shorter or you don’t have adequate funds to cover your expenses, it could be the best option. However, if neither situation applies, deferring your Social Security claim can generally yield a higher total benefit over your lifetime.

You can also continue to increase your checks past your FRA at a rate of two-thirds of a percent per month until you reach your maximum benefit at age 70.

3. You might impact the survivors’ benefits for your family

Survivor benefits from Social Security are available to your spouse and dependents after your death. If you haven’t claimed Social Security, these benefits are determined by the family member’s relationship to you and your primary insurance amount (PIA)—the benefit you’re eligible to receive at your FRA. However, if you have been claiming benefits, then the survivor’s benefits available to your family are based on the amounts you were receiving.

Claiming your benefits early will not only decrease your monthly payments but also diminish the benefits available to your family after you’re gone. Because of this, it may be wise to delay your Social Security application if you are not in immediate need of the funds.

It’s important to note that the rules governing survivor benefits differ from spousal benefits. The maximum amount a spouse can receive is always half of the worker’s PIA, regardless of when the worker claims their benefits. However, a spouse can only claim this benefit once the worker has registered. Moreover, if the spouse applies for benefits before their own FRA, their benefits may get reduced.

If you have questions regarding your Social Security benefits, it’s advisable to conduct online research or contact the Social Security Administration before proceeding with your application. You have the option to revoke your Social Security claim within the first 12 months if you change your mind, but you’d need to refund all benefits previously received. This can be challenging for many, which is why it’s ideal to wait until you are certain before applying.

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