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Any time you take Social Security before your full retirement age, you’ll have to accept a reduced benefit. Your benefit will be 6.66% lower for each year of early benefits. If you start them at ...
If you’re considering joining the nearly 600,000 retired workers who currently collect benefits at the earliest age, 62, you may want to know exactly what you’re getting into first. Don't miss
The earliest you can file for Social Security is 62 and you’ve reached “full retirement” — when you can collect 100% of your eligible benefit — between 66 (those born 1943-54) and 67 ...
1960 and later. 67. While the full retirement age used to be 65, changes to the program have increased that age. For example, those born in 1955 now have to wait an extra two months beyond age 66 ...
So, if you currently earn $100,000 a year, 80% of your pre-retirement income works out to $80,000. So, assuming you're receiving monthly Social Security checks and following the 4% rule, if you ...
Of course, Social Security supplements savings, but benefits are intended to replace only 40% of pre-retirement earnings and average just $1,907 per month. Beat the average for a secure retirement
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