Similarly, men and women with less than a high school education are over 25 percentage points more likely to claim Social Security benefits early than those with a college degree or more. We focus on four criti
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...
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...
How your Social Security benefits might be impacted “If you retire before you get to retirement age, your benefits might be less when you get to Social Security retirement age,” says Czajka. “Planning to maximize your benefits could be a very important part of your retirement income.” You...
What are early retirement considerations around Social Security? After you estimate your expenses in your early retirement plan, you’ll want to consider sources of income during retirement—in particular, Social Security benefits. “Depending on your work history, retiring early could mean a big red...
Deciding when to begin taking your Social Security benefits is a significant decision. For example, if you were born after 1960, full benefits start at age 67. If you take Social Security at the earliest age of 62, your benefits could be up to 30% less. ...
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 ...
People who qualify for social security retirement benefits can begin receiving those benefits in the month after they reach age 62, or any month after that, even though they won’t reach full retirement age for a few more years. If you choose to receive retirement benefits before your full ...
In this case, should I lower the amount of Social Security benefits in my calculations of what I could expect for early retirement? How would I make this calculation? Does it make sense for someone to delay their early retirement plans to achieve more Social Security earnings in their later ...