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QUESTION:
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can i retire? | | i am 57 and have no hope that i can retire. i have no pla2n savings. i am still paying a mortgage, car payment and am living from paycheck to paycheck. my spouse is retired military and still works seasonal work. my health is failing and it worries me that i may not be able to work much longer. i believe i can collect ss at 62 but not sure. can you give me options. |  | asked by sandramillett, 5/3/2008 |
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Categories:
Retirement Income, Pre Retirement, Retirement Investing, Social Security, Financial Planning for Retirement
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| ANSWERS: | | Answered by: Editorial, 05/08/08
Overall Rating:  Be the first to rate it. | In general, most people can start Social Security at age 62. However, your monthly payments will be less than if you delay until your maximum retirement age.
-- To determine your maximum retirement age (the age at which you could maximize your monthly income), please visit:
http://www.ssa.gov/retire2/agereduction.htm
-- If you would like more information about the many benefits of working when you are of retirement age, continue here: http://www.newretirement.com/Services/Working_In_Retirement_Reasons.aspx
-- Learn more about the benefits of delaying Social Security here:
http://www.newretirement.com/Services/Social-Security-Benefits.aspx
I would also encourage you to look for ways to eliminate your mortgage. Have you considered downsizing your home or a Reverse Mortgage?
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