retired couple - www.IWantToRetireSoon.com
by Roger Chartier

I Want To Retire Soon

 




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Social Security
Retirement Age Calculator

When can I retire on Social Security?

Changes in retirement ages for Soc Sec..

The retirement age for those born in 1938 or later gradually increases.

It goes up to 67 for people born after 1959.

Note: For some reason that eludes logic,
If you were born on January 1st of any year, you must refer to the previous year.

People born between 1943 and 1954 won't get a full retirement until they are 66.

The earliest you can start to begin receiving Social Security retirement benefits is 62. 

Year Retirement age At 65 At 62
1955 66 + 2 mos. 92.2% 74.2%
1956 66 + 4 mos. 91.1% 73.3%
1957 66 + 6 mos. 90% 72.5%
1958 66 + 8 mos. 88.9% 71.7%
1959 66 + 10 Mos. 87.8% 70.8%
1960 67 86.7 70%
1960 + 67 86.7% 70%
Spouse Benefits are 50% at your full retirement age
Year   At 65 At 62
1955   41.1% 34.6
1956   44.4% 34.2%
1957   43.8% 33.8%
1958   43.1% 33.3%
1959   42.4% 32.9%
1960   41.7 32.5
1960 + 41.7 32.5

The rates change the earlier that you retire. There is a sliding scale, and it changes monthly.

It's not so bad if you are almost retirement age, but the sooner you retire the less you get.

A person only gets 75% of their benefits if they retire at 62 of course they are retiring early and get an extra 4 years or 48 months of benefits.

You will get 93.3% of your benefits if you retire at 65, but you start early and get an extra year of benefits. You have to think about how long you expect to live. It's probably best to do some math here to get an idea before you make a decision..

Spouse Social Security Benefits

At your full retirement age, you get 50% of the monthly benefit that your spouse would receive if his or her benefits started at full retirement age.

You as a spouse get 35% of the monthly benefit at 62 years of age.

You can get 45.8% at 65 years of age.

 
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