Social Security
Social Security is a U.S. Government entitlement program that you are qualified for if you pay over 40 credits into the program (Up to 4 credits may be earned per year). You may qualify as a spouse, ex-spouse, or dependent child as well.
The government website for information on Social Security is ssa.gov .
Survivor Benefit, 60:
If widowed, you may be eligible to claim survivors benefit beginning at age 60 from your late spouse’s Social Security record. If collecting survivors benefit, your benefit may be able to continue to grow until claimed. Social Security Earnings Test applies.
Early Claiming, 62:
You may begin claiming Social Security Retirement Benefits as early as age 62. Between age 62 and your Full Retirement Age, your Social Security may be reduced if your earnings exceed a threshold. (Social Security Earnings Test). If you delay your Social Security beyond age 62, it is increased on a monthly basis.
Full Retirement Age, 66-67:
Full Retirement Age (FRA) is the age which you can begin claiming Social Security with no repercussions for crossing the Earnings Test threshold. For delaying Social Security past this age, you will receive an 8% per year increase on your benefit (credited on a monthly basis). If you are claiming spousal benefits off of your spouse’s Social Security record, you are not eligible for the 8% increase by delaying past your FRA.
Age 70:
There is no additional credit given for delaying Social Security past age 70. There would be few reasons to delay Social Security past age 70.