Understanding the details of Social Security is critical for both current retirees and for those who are going to retire in the future and who plan on these retirement benefits being an important income source.

Fact checked by Vikki Velasquez If you're nearing retirement, you’ve probably wondered when to start taking Social Security benefits. For years, age 65 was considered the “normal” retirement age, but a law passed in 1983 gradually raised this age to reflect the increasing life expectancy of Americans.

One of the most crucial aspects to grasp is your Full Retirement Age (FRA), as it significantly influences your monthly and lifetime benefits.