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QUESTION:
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Full Retirement Age | One thing to think about when retiring is when to start taking Social Security.
If you wait until your Full Retirement Age, then you'll get 100% of your Social Security Benefit. If you retire anytime between 62 and your Full Retirement Age, then your benefit will decrease the earlier you take your benefit.
Your Full Retirement Age varies depending on the year you were born - the later you were born, the older your Full Retirement Age will be.
It's worth thinking through the optimal time to take your benefit based on your personal situation and how long you think you might be able to take this benefit.
The Social Security Administration has a guide here: http://www.socialsecurity.gov/retirechartred.htm |  | asked by SilverSurfer, 7/9/2006 |
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Categories:
Early Retirement, Retirement Calculators, Social Security, Retirement Income, Financial Planning for Retirement, Delaying Retirement, Pre Retirement
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| ANSWERS: | | Answered by: FEDUP, 07/12/10
Overall Rating:  Be the first to rate it. | I was born 13th May 1955. I have been told by the Governement Gateway site that I only need thirty years to qualify for my state pensionl As I have contributed in excess of thirty years, can I now stop contributing as I have enough years already? Login to rate this answer: |
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