Hey! Today, we want to talk about how to decide what age you want to start collecting social security benefits.

Benefits can be collected as early as age 62 or as late as 70, though full retirement age depends on when you were born. If you choose to wait, your benefits will increase long term, although most people don't wait past 70 as by then there is no significant change in what you receive after that.

It's helpful to estimate your life expectancy to maximize what you receive. The breakeven age is when the total benefits equal the same amount despite different start times.

For example, two people of similar ages and financial backgrounds may choose to start collecting three years apart. While the second person had to wait three more years to start collecting, eventually they could earn more over their lifetime than the person who did not wait.

Remember, the longer you wait, the shorter amount of time you’ll receive benefits, but the payments will be larger. See you next time on Money Matters!

Help Center

  • Lost or Stolen Debit or ATM Card

    1.855.ASK.SBANK (1.855.275.7226)

  • Lost or Stolen Credit Card


  • 24 Hour Emergency Roadside Assistance

    Lock your keys in your car? Car won’t start? Call 1.833.278.1576. It’s free to use up to $80 in service charges. (For GOLD accounts with BaZing Only.)

  • Reorder Checks

    Click Here. Safe & Secure check ordering through Deluxe, our preferred check printer.

  • Customer Care Center

    1.855.ASK.SBANK (1.855.275.7226)
    Mon-Fri 8am-7pm Sat 9am-1pm Treasury Services Support availableMon-Fri 8am-5:30pm Closed Sun & federal holidays

Online Banking

Don’t have Online Banking? Sign Up