Full Retirement Age — FRA

Full Retirement Age is a very important age when it comes to your Social Security money. Think of Social Security as a piggy bank that everyone puts a little money into while they are working. When you get older and stop working, this piggy bank sends you money every month to help you live comfortably. Full Retirement Age is the special age when you can start taking all the money you're promised from that piggy bank each month, without any part of it being held back.This special age is mostly for people who have worked and paid into Social Security, which is most grown-ups in our country. So, if you've been working a job, you're likely someone who will get Social Security when you get older. For many people today, especially if you were born in 1960 or later, your Full Retirement Age is 67. If you were born earlier, it might be a little younger.In real life, this means that if you decide to start taking your Social Security money exactly when you hit your Full Retirement Age, you get the biggest monthly check you're meant to receive. If you start taking it earlier, like at age 62, your monthly checks will be a bit smaller. If you wait until after your Full Retirement Age, your monthly checks will actually get a little bigger each year you wait, up until age 70. So, knowing your Full Retirement Age helps you decide the best time to start getting your money. See also: <a href="/glossary/social-security-retirement-benefits">Social Security Retirement Benefits</a>.