Working for a large number of years ensures a good retirement benefit in the United States. The years worked are one of the three elements to take into account when it comes to getting the biggest Social Security check possible.
However, it is not the only element to take into account, and retirement age plays a fundamental role. The minimum age to claim a Social Security age-based check is 62. Although it is tempting to retire at that age, we could lose a lot of money by doing so.
In this sense, if we contribute a large retirement check through having a good salary for 35 years it would be a shame to lose much of it because of the age to apply for it. It should be noted that asking for retirement at age 62 means losing 30% of the final check.
This is because the full retirement age is 67. For that reason, we lose money if we apply for Social Security before that age. The closer we get to age 67, the smaller the discount on our final check.
However, each retirement check is totally different for each retiree. The three elements that make up the payment change from one retiree to another. It is not easy to find two retirees who have had the same salary for the same number of years worked requesting payment at the same age.
For that reason, we should always maximize our options. To do so, we should apply for a retirement check as close as possible to age 67. On the other hand, we should get the highest possible salary and work for at least 35 years.