Understanding your Social Security benefits

When it comes to Social Security, there is a lot to consider. Social Security is often associated with a retirement program, but you may enroll if you become disabled or lose a family member. Take a look at the diagrams below for information on how to make the right choices for you and your family.

When should I start collecting Social Security benefits?

The answer is different for every person and depends on many individual factors like your date of birth, marital status and financial position.

The longer you wait to start collecting Social Security, the higher your monthly benefit will be. An Ameriprise financial advisor can help you determine the best time for you based on your financial situation and goals.

How do my Social Security benefits change if I retire early or late?

As life changes and priorities shift, you may wish to retire before or after your full retirement age. Your Ameriprise advisor can help you determine the best choice for you. Retiring early locks you into lower monthly payments and will decrease your lifetime benefit amount. Retiring later increases your monthly payment and the amount you will receive over your lifetime.