When we spoke with Steven and Becky Sword in August, Steven was making $16 an hour as a security guard on the overnight shift at a condominium complex. Becky was working days as an occupational therapy assistant in a nursing home. They're 62-years-old and have worked full-t...
When we spoke with Steven and Becky Sword in August, Steven was making $16 an hour as a security guard on the overnight shift at a condominium complex. Becky was working days as an occupational therapy assistant in a nursing home. They're 62-years-old and hav...
Having a tentative idea of when you plan to claim Social Security, whether that's at 62 or later, can help you better estimatehow much you'll need to save for retirementon your own. But don't feel like your decision is set in stone. Review your plans periodically and adapt as neede...
Social Security is a federal program in the U.S. that provides retirement benefits and disability income to qualified individuals and their spouses, children, and survivors. Workers must be at least 62 years old and have paid into the system for 10 years or more to qualify for Social Security...
The Social Security Administration oversees social insurance programs that provide retirement, survivor, and disability benefits to Americans. To qualify for retirement benefits, a worker must pay into Social Security, earn 40 credits over a minimum of 10 years, and cannot claim before age 62. ...
One of the most important retirement planning decisions you'll make in your golden years is when to apply for Social Security. The most popular age to claim retirement benefits, by far, is 62, the first year you become eligible.While most retirees unders
To be eligible for Social Security benefits based on your own earnings, you must be at least 62 years old and have worked and paid Social Security taxes for at least 10 years. Eligibility Based on Your Spouse's Earnings If you meet the 10-year work requirement, you will receive benefits ...
However, workers do need 40 credits, accumulated at the rate of four per year for 10 years, to be eligible for a benefit. According to the Social Security Administration, “If you do not have 35 years of earnings by the time you apply for retirement benefits, your benefit amount will ...
When the Social Security Administration released its annual Trustees’ Report last week, I crunched the numbers to show that the fiscal burden of the program is projected to dramatically increase. Payroll taxes are going to climb rapidly, but spending will grow even faster. As a result, the pro...
Choosing to take your Social Security at 62 would reduce your benefits by about 30%. Putting the maximum Social Security benefit closer to $2,710 per month. For a more personalized estimate of the benefits you could receive at various ages, visit the Social Security Administration website and...