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The amount of the reduction depends on the year you were born. For example, if you were born in 1960 or later, taking Social Security benefits at age 62 would reduce your monthly benefit by 30% ...
Instead, you might consider tapping money from your retirement accounts, like a 401(k) or IRA, first so that you can delay Social Security until your full retirement age — and collect a bigger ...
Whether you’re starting from zero in retirement savings or have built up a small nest egg, if you’re looking to retire at 62, there’s a lot to consider. Make Sure You Can Afford Healthcare
For many people, retiring feels like crossing a finish line. You have spent your working years building wealth, and now it's time to manage and spend that money. By and large, this is true ...
2022. The retirement age will gradually increase to 62 for males by 2028 and 60 for females by 2035. In 2021, the retirement age is 60.25 (age 60 and 3 months) for men and 50.33 (age 50 and 4 months) for women, the age will be increased by 3 months each year following for men and 4 months for women.
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 ...
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