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Once you reach your 60s, Social Security becomes a factor in deciding when to retire. You can start collecting Social Security benefits at age 62, though you aren’t yet considered full ...
If you retire 36 months or less before full retirement age, your benefit is decreased by 5/9 of 1 percent per month. If you retire more than 36 months before full retirement age, your benefit is ...
The average retired worker collects $739 more per month at age 70 compared to age 62 and around $154 more per month than at age 67, according to 2023 data from the Social Security Administration ...
Several of the states with the earliest average retirement age are located in the Appalachian region of the U.S. ... 800-290-4726 more ways to reach us. Mail. Sign in. Subscriptions; Animals.
The Social Security Administration doesn’t issue your full benefits until you reach a certain age, known as the full retirement age. For Americans born in 1954 or earlier, retirement age is 66.
How Benefits Are Reduced by Early Retirement for Workers Born 1955 to 1959. Birth Year. Full Retirement Age. Reduction in Benefits If Received Beginning at 62
Year of birth. Full retirement age. 1937 and before. 65. 1938-1942. 65 + 2 months for each year past 1937. 1943-1954. 66. 1955-1959. 66 + 2 months for each year past 1954
Claiming Social Security at 62 would reduce your monthly PIA by 30%; delaying benefits until 70 would increase it by roughly 24% (assuming your full retirement age is 67).