When Can I Retire If I Was Born In 1958

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How much would I receive if I retire at 62?

For example, the AARP calculator estimates that a person born on Jan. 1, 1959, who has averaged a $50,000 annual income would get a monthly benefit of $1,264 if they file for Social Security at 62, $1,785 at full retirement age (in this case, 66 years and 10 months), or $2,237 at 70. via

Can I get Medicare if I was born in 1958?

You can enroll in Medicare at 65 regardless of whether you've started Social Security, although if you have started your enrollment will be automatic. via

Can you collect Social Security at 66 and still work full time?

If you're eligible for Social Security, you can start collecting your benefits as early as age 62. You can also continue to work. But unless you've reached your full or "normal" retirement age (such as 66 or 67), you'll be doubly penalized: If you earn over a certain amount, your benefits will be temporarily reduced. via

What is the retirement age for 62?

"If you turn 62 in 2021, your full retirement age is 66 and 10 months. You get less if you start early or more if you delay until later," says Andy Landis, author of "Social Security: The Inside Story." "Starting at 62 in 2021 gets you a 70.83% payment for life. via

What is the average Social Security check at age 62?

At age 62: $2,324. At age 65: $2,841. At age 66: $3,113. At age 70: $3,895. via

Can you collect Social Security and still work at 62?

If you work and are full retirement age or older, you can earn as much as you want and your benefits will not be reduced. However, individuals may begin taking Social Security retirement benefits early beginning at age 62. via

Is it better to take SS at 62 or 66?

If you start taking Social Security at age 62, rather than waiting until your full retirement age (FRA), you can expect up to a 30% reduction in monthly benefits with lesser reductions as you approach FRA. Waiting to claim your Social Security benefit will result in a higher benefit. via

Can I retire at 62 if I was born in 1958?

You can start your Social Security retirement benefits as early as age 62, but the benefit amount you receive will be less than your full retirement benefit amount. via

What are the disadvantages of taking Social Security at 62?

Three disadvantages of taking Social Security early

  • Your payout could be permanently reduced by up to 30%
  • The SSA may be able to withhold some or all of your benefits.
  • You may be financially sabotaging your loved ones.
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    At what age is Social Security no longer taxed?

    At 65 to 67, depending on the year of your birth, you are at full retirement age and can get full Social Security retirement benefits tax-free. However, if you're still working, part of your benefits might be subject to taxation. via

    At what age do seniors stop paying taxes?

    Updated for Tax Year 2019

    You can stop filing income taxes at age 65 if: You are a senior that is not married and make less than $13,850. via

    What is my break even age for Social Security?

    Your Social Security breakeven age is the point in your life when the total of those lower benefits comes to equal the total of benefits that you would have received if you had waited to take your benefits at FRA or even later. via

    Can a woman retire at 62?

    You can start receiving your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits when you reach your full retirement age. If you delay taking your benefits from your full retirement age up to age 70, your benefit amount will increase. via

    Can I retire at 62 if I was born in 1962?

    Full Retirement Age for Survivors Born In 1962 or Later: 67

    62, you will get 79.6 percent of the monthly benefit because you will be getting benefits for an additional 60 months. 65, you will get 91.9 percent of the monthly benefit because you will be getting benefits for an additional 24 months. via

    Can I retire at 62 and still work part time?

    You can't receive Social Security retirement benefits until you reach the age of 62, so working while also receiving benefits isn't possible until you reach that age. You can delay retirement until you're 70 years old, which is past your full retirement age. via

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