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There are certain challenges that come with retiring at age 58. For one thing, if you need cash, you may be subject to a 10% penalty for an early IRA or 401(k) account withdrawal.
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
Birth year. Full retirement age. 1943–1954. 66. 1955. 66 and 2 months. 1956. 66 and 4 months. 1957. 66 and 6 months. 1958. 66 and 8 months. 1959. 66 and 10 months. 1960 or later
Your full retirement age benefit will be reduced by 30%, from $1,000 to $700. Age 63. As you’re claiming benefits more than 36 months before full retirement age if you file at age 63, your ...
Delaying Social Security beyond age 70 earns no added benefit, so claim your increased payments now. Age 73. You must start IRA and 401(k) required minimum distributions (RMDs) now. Throughout ...
If people born after 1960 claim their benefits the month they turn 62, they’ll get only 70% of what they would have received had they waited until the full retirement age of 67. The average ...
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