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If you spend four years in college before starting your career at 22, you’ll work for 40 years before you can claim your Social Security benefits. The average age of retirement, however, is ...
From the perspective of the Social Security Administration, full retirement age for those born in 1960 or later is 67. If you continue to draw income before you reach full retirement age, the SSA ...
While you don’t have to work 35 years in order to file for Social Security, if you can put in at least 35 high-earning years, the size of your ultimate payout will increase and make retirement ...
When Social Security was created, the full retirement age was set at 65. However, in 1983, lawmakers amended Social Security to try to shore up the finances of the program.
For example, if you earn $20 per hour, you can work 1,170 hours per year before your Social Security benefits are reduced, assuming you haven’t yet reached full retirement age.
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
Using the SSA’s example in its “How Work Affects Your Benefits” publication, if your monthly Social Security payment at 62 years is $600 ($7,200/year) and you intend to make $23,920 for the ...
This age will vary by birth year, but it's 67 years old for everyone born in 1960 or later. Social Security full retirement age chart. Image source: The Motley Fool.
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