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Ramsey was responding to a question from a listener about whether it made more sense to collect Social Security at 62 or wait until full retirement age, which is either 66 or 67 years old ...
If you were to then invest that $16,800 at age 63 at an average annual 10% return, which is in line with the stock market's average, by age 93, you'd have about $293,000.
Age 62 is also an important milestone: Americans can begin claiming Social Security at that age if they meet the requirements. Social Security alone isn't a retirement strategy.
There is no definitive answer to when you should collect Social Security benefits and taking them as soon as you hit the early retirement age of 62 might be the best financial move.
While you can start receiving your Social Security benefit at age 62, you won’t be eligible for the full amount until you reach your “full retirement age,” which varies according to the year ...
One claiming age is considerably more likely than others to maximize your lifetime income from Social Security. Is It Better to Collect Social Security at 62, 65, or 70? A Thorough Study Offers a ...
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