Health status, longevity, and retirement lifestyle are 3 key factors that can play a role in your decision on when to claim your Social Security benefits. While these variables are hard to predict with certainty, you can rely on the simple fact that if you claim early versus later, you ...
Early retirement is a term that has more than one meaning. Early retirement can refer to the age an individual can start to receive Social Security benefits. The term can also refer to the practice of retiring before reaching an employer's official retirement age. As applied to Social Security...
About as many 62-64 year olds classified as severely disabled receive early retirement benefits as receive disability benefits from DI or SSI. The evidence suggests that Social Security early retirement benefits serve as a substantial, albeit unofficial, disability program for some early retirees....
To avoid confusing those who haven’t worked very many years yet – but plan to – the standard Social Security benefits statement projects out anticipated future Social Security benefits based on the assumption that the individual will continue working until retirement. Which allows the individual to...
A life-cycle model of retirement behavior provides estimated parameters used to simulate the effects of cutting early Social Security benefits on retirement pathways. We find that cutting early Social Security benefits would boost the probability of normal retirement by twice as much as it would the...
Social Security formulas encourage early retirement. Although incomes usually rise with additional years of work, any pay increases after the 35-year mark result in higher social Security taxes but only small increases in benefits. Hudson Institute researchers believe that federal tax and benefit ...
How much income you earn in retirement Your average pre-retirement investment return Your average post-retirement investment return Yourhome state in retirement As I mentioned, the earliest you can begin collecting Social Security retirement benefits is 62. So, until then, your savings and any pensi...
The cons of early retirement include: Years of no income. A potential health insurance crunch. A loss of meaning. Feelings of loneliness. Years of No Income Leaving the workforce early likely means you’ll have to support yourself until you’re eligible for Social Security benefits. “With a...
While that's one argument for delaying retirement, those problems aren't inevitable. The report also concluded that retirees who remained physically active and socially connected were less likely to suffer any ill effects. 2. Your Social Security Benefits Will Be Smaller ...
Suggestion that raising the Social Security retirement age is not likely to lower the economic well-being of people aged 62.BurkhauserRichardV.CouchKennethA.GerontologistBurkhauser, Richard V., Kenneth A. Couch, and John W. Phillips. 1996. "Who Takes Early Social Security Benefits? The Economic...