Straight answers to common Social Security questions

You generally need 40 work credits, which most people earn after about 10 years of work paying Social Security taxes. Your monthly benefit is based on your highest 35 years of earnings.

Create a no-cost "my Social Security" account at ssa.gov. It shows your earnings record and estimates of what you would receive at different claiming ages. It is also a good way to check your record for mistakes.

Full retirement age (FRA) is the age at which you receive 100% of the benefit you have earned. It ranges from 66 to 67 depending on your birth year, and it is 67 for anyone born in 1960 or later.

You can apply online at ssa.gov, by phone at 1-800-772-1213, or at a local Social Security office. The Social Security Administration suggests applying about four months before you want your benefits to begin.

You can start as early as 62, but your benefit is permanently reduced. If your FRA is 67, claiming at 62 means roughly 30% less each month. If you wait past FRA, your benefit grows by about 8% for each year you delay, until age 70. There is no further increase after 70.

There is no single right answer. It depends on your health and family history, whether you are still working, your other sources of income, and your spouse's situation. A good way to decide is to compare what you would expect to receive at different ages, including how the choice affects a surviving spouse. I can walk through the trade-offs with you.

Yes. If you are under full retirement age and earn above an annual limit, some of your benefits are temporarily withheld. The limit changes every year, so check ssa.gov for the current number. Once you reach full retirement age, the earnings limit no longer applies, and your benefit is recalculated to give you credit for months that were withheld.

Within 12 months of starting, you can generally withdraw your application, but you have to pay back the benefits you received. After you reach full retirement age, you may be able to suspend your benefits to earn delayed credits until age 70. Ask the Social Security Administration how this would apply to you.

A spouse may qualify for up to 50% of the worker's full-retirement-age benefit if that is more than their own benefit. The amount is reduced if the spouse claims before their own full retirement age. In most cases, the worker must have already filed for benefits.

A surviving spouse may be eligible for survivor benefits as early as age 60, up to 100% of what the deceased spouse was receiving or entitled to. In many cases, the survivor can choose between their own benefit and the survivor benefit. When one spouse passes away, the household generally keeps the larger of the two checks and loses the smaller one, which is why the claiming decision matters for couples.

You may qualify if your marriage lasted at least 10 years, you are currently unmarried, and you are at least 62. Claiming on an ex-spouse's record does not reduce the amount your ex receives.

It can be. Depending on your "combined income," which includes your adjusted gross income, tax-exempt interest, and half of your Social Security, up to 85% of your benefits may be subject to federal income tax. Some states tax benefits as well. A tax professional can look at your situation.

Benefits receive an annual cost-of-living adjustment (COLA) based on a government price index. The amount changes each year, and it may not match your own expenses, especially healthcare.

You become eligible for Medicare at 65 whether or not you have started Social Security. If you are already receiving benefits at 65, you are typically enrolled in Medicare Parts A and B automatically, and the Part B premium is usually deducted from your check. If you have not claimed yet, you need to sign up for Medicare yourself. See the Medicare FAQ for more.

For most people it replaces only part of their pre-retirement income. The Social Security Administration has said it replaces roughly 40% of pre-retirement earnings for the average worker. That is why it is usually combined with savings, pensions, and other income. See the Retirement Income Planning FAQ.

The Social Security trustees have projected that the trust fund reserves could be depleted in the 2030s. Even then, incoming payroll taxes would be expected to pay most, but not all, scheduled benefits unless Congress acts. Check ssa.gov for the latest trustees' report, since projections are updated every year.