One thing soon-to-be retirees need to start looking at carefully is where they fall in terms of Social Security benefits. Whether you start taking withdrawals at 62, 67, or 70, it’s important to understand what impact Social Security withdrawals will have on your income level while retired.

One of the most important retirement planning decisions you'll make in your golden years is when to apply for Social Security. The most popular age to claim retirement benefits, by far, is 62, the first year you become eligible.

The third round of January’s Social Security payments, worth up to $5,108 for the highest-income earners who retire at age 70, will go out to the third group of retirees in six days. Retirees born on or after the 21st of a month will receive their payments on Jan. 22.

For many Social Security beneficiaries residing outside the United States, receiving monthly payments is still possible. However, there are specific countries where these benefits are restricted.

As we step into 2025, you may be setting financial goals. While you're at it, you should also keep tabs on the Social Security changes this year.