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Valued Social Butterfly
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Re: When will you collect Social Security?

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Message 51 of 53

The thing to remember for people who want to begin benefits early is that as the Full Retirement Age (FRA) is increasing; but the early retirement age has not changed and the reduction in benefits because of early retirement is increasing because the reduction is based on the (early) time period to FRA.

 

This was done by design, I'm sure,  but people can accommodate this reduction by adding a year to their (still) early retirement age.  So if Your FRA is 66 - stretch the early retirement date to your 63rd birthday and so on as the FRA marches on.

* * * * It's Always Something . . . Roseanne Roseannadanna
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Treasured Social Butterfly
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Re: When will you collect Social Security?

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Message 52 of 53

I began collecting last month, shortly after my 66th birthday. For me it was a "bird in the hand" decision, after my Mom died at on 77 from cancer. She was diagnosed the month before she planned to retire, and had treatment on & off for 12 years. I wasn't going to let any grass grow under my feet; retired at 50 & didn't wait too long for SS.


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When will you collect Social Security?

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Message 53 of 53

Collecting before full retirement age? These individuals decided to start collecting Social Security at the age of 62. In the following video from AARP, hear what factors went into each person's decision making process (video: 2:38). When will you collect Social Security?

 

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