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Even though you haven’t hit 65, you're still old enough to collect Social Security — although you'll be looking at a reduced monthly benefit due to not reaching full retirement age.
A worker’s PIA reflects the benefit received at full retirement age, however, you can actually start claiming Social Security once you turn 62 years old. But doing so will reduce your benefit.
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 ...
During the year you reach full retirement age, the threshold increases while the reduction is only $1 for every $3 earned over that amount. For 2025, the earnings test threshold is $23,400 (or ...
You can claim Social Security between 62 and 70, but you have a full retirement age (FRA) you must wait for if you want your standard benefit. If you were born in 1960 or later, your FRA is 67.
Most Americans may consider the standard retirement age to be 65, but the so-called "full retirement age" for Social Security is already older than that — and it's about to hit an even higher ...
At the time of writing, the IRS allows you to withdraw money from tax-advantaged accounts starting at age 59.5, so you can take full drawdowns. However, age 62 is still considered early retirement.
There's no sales tax, and Social Security retirement benefits are exempt from the state income tax, though retirement accounts such as a 401(k) or an IRA are taxed at full state income tax rates.
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