Full retirement age
Raising the retirement age
Choosing when to start receiving your Social Security retirement benefits is an important decision that affects your monthly benefit amount for the rest of your life. For those born in 1960 or later, your full retirement age is 67 to…
Ask Rusty – About Social Security’s “First Year Rule”
Dear Rusty: I’m considering filing for my SS at age 64 in February, before my full retirement age of 66 years and 10 months. I’m working full time and would like to continue earning until I meet the $21,240 limit…
Should you claim Social Security at 65?
Full retirement age is when you become eligible for unreduced Social Security retirement benefits. Your full retirement age is determined by the year and month you were born. The retirement age gradually increases by a few months for every birth…
Avoid these three costly mistakes
Social Security provides a foundation of retirement protection for nearly all people in the U.S. Social Security provides a guaranteed, progressive benefit that keeps up with increases in the cost of living. However, there are no guarantees on how much…
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…
Ask Rusty – Will My Work Earnings Affect My Social Security Benefits?
Dear Rusty: I am presently 67 years of age and am still working full time. I am receiving Medicare coverage, but I have not yet applied for monthly Social Security payments. I have been told that I can take SS…
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…
Your Social Security chart can help you decide when to start your benefits
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…
Is it possible to wait too long to start your benefits?
If you delay taking your benefits from your full retirement age up to 70, your benefit amount will increase. Your monthly Social Security benefits will increase by 2/3 of 1 percent each month you wait to start your Social Security…
Social Security retirement earnings test
The current economic conditions have many retirees thinking about returning to the workforce. First, you can get Social Security retirement or survivor benefits and work. However, if you’re younger than full retirement age and earn more than a specific dollar…