early retirement
Should you should retire now?
You can begin your Social Security retirement benefits as early as age 62. However, If you start receiving benefits early, your benefits are reduced. You are entitled to full benefits when you reach your full retirement age. If you delay…
Yet Another Reason to Avoid Early Retirement
We probably should have seen this one coming, given the many articles about the need to remain active in retirement and to have a plan for some form of mental engagement after pulling the plug on a career. In an…
Understanding How the 2023 COLA Relates to Your Benefit Amount
Something that’s often overlooked when assessing retirement cash flow in an early retirement situation is the math behind the application of annual cost-of-living adjustments (COLAs). CNBC personal finance reporter explains how an early filing decision leads to a curtailment of…
The Early Filing Question (Again)–More Viewpoints
One of the most frequent questions we receive here at the AMAC Foundation’s Social Security Advisory Service deals with when to start drawing retirement benefits, and specifically the economics associated with starting at the earliest possible age (62). We typically…
The perils of filing for Social Security early
Most folks aging into Social Security eligibility are aware that they can file for benefits at age 62. What they may not be fully aware of, though, is the downsides associated with the decision to file before reaching full retirement…
More Thoughts on Deferring Social Security Benefits
The value of holding off on Social Security benefits is pretty well known these days, and many financial advisors extol the virtue of an 8% return on your deferred benefits (especially in view of the paltry–and declining–interest rates offered by…
The Personal Aspects of Deciding on Retirement
Of course, there is no one-size-fits-all template for those wondering when they should embrace retirement. It’s a decision that has many facets and implications, but the most fundamental is one’s health and financial situation. But assuming you’re in a position…
Claiming Benefits Before Age 62
Most folks assume age 62 to be the absolute earliest age one can begin to draw benefits from Social Security. While that’s generally true, there are (as always) some exceptions to this rule. The Motley Fool’s Kailey Hagen, in a post…
More on When to Retire–A Helpful Chart
The general question of “When should I retire?” is one of the most frequent inquiries fielded by the AMAC Foundation’s Social Security Advisory Service. And while our general first response is, “It depends,” we do spend time discussing the reasons…
The Implications of Filing for Social Security Early
MarketWatch contributor Brenton Smith provides, in a post on www.marketwatch.com, some thoughts on the long-term implications of filing for Social Security benefits before reaching full retirement age or even before age 70, when delayed retirement credits stop. His analysis of Social…