 Hi, we're so glad to have you with us today. I'm Luann Fulmer here with Michael Anderson. According to the Social Security Administration, a retirement benefit of about $1,000 is reduced by 25%, so that takes it to $750. If you take your benefit 48 months ahead of your 67th birthday or your full retirement age. Now, even if you wait longer until you're 70, that benefit does continue to increase up to 8%.