Can I Retire At 62 If I Was Born In 1961?

Can I retire at 62 if I was born in 1959?

If you were born in 1959 your full retirement age is 66 and 10 months.

You can start your Social Security retirement benefits as early as age 62, but the benefit amount you receive will be less than your full retirement benefit amount..

How soon after I turn 62 Can I collect Social Security?

How Early Can I Apply? Apply four months before you want your Social Security retirement benefits to start. If you want your benefits to start at age 62, you can apply at age 61 and eight months.

How much will I get if I retire at age 62?

The question is, what can the typical retired worker expect to receive from Social Security at age 62? According to payout statistics from the Social Security Administration in June 2020, the average Social Security benefit at age 62 is $1,130.16 a month, or $13,561.92 a year.

Can I retire at 62 if I was born in 1960?

You can start your Social Security retirement benefits as early as age 62, but the benefit amount you receive will be less than your full retirement benefit amount.

Can I retire at 62 if I was born in 1957?

If you were born in 1957 your full retirement age is 66 and 6 months. You can start your Social Security retirement benefits as early as age 62, but the benefit amount you receive will be less than your full retirement benefit amount.

What if I retire at 62?

You can start receiving your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits when you reach your full retirement age. If you delay taking your benefits from your full retirement age up to age 70, your benefit amount will increase.

Can I still work if I retire at 62?

If you work and are full retirement age or older, you can earn as much as you want and your benefits will not be reduced. However, individuals may begin taking Social Security retirement benefits early beginning at age 62. … Once you reach full retirement age, your benefits will no longer be reduced.

Can I retire at 62 if I was born in 1962?

Full Retirement Age for Survivors Born In 1962 or Later: 67 62, you will get 79.6 percent of the monthly benefit because you will be getting benefits for an additional 60 months. 65, you will get 91.9 percent of the monthly benefit because you will be getting benefits for an additional 24 months.

Why retiring at 62 is a good idea?

Reason #1: Retire Early if You Want to Stay Healthier Longer But not all work is good for you; sometimes it’s detrimental to your health. Retiring at 62 from a backbreaking job or one with a disproportionately high level of stress can help you retain, or regain, your good health and keep it longer.

How much will Social Security pay me at 62?

For example, the AARP calculator estimates that a person born on Jan. 1, 1958, who has averaged a $50,000 annual income would get a monthly benefit of $1,499 if they file for Social Security at 62, $2,092 at full retirement age (in this case, 66 years and eight months), or $2,650 at 70.

Should I take SS at 62 or wait?

The decision of when to take Social Security is highly dependent on your circumstances. You can start taking it as early as age 62 (or earlier if you are a survivor of another Social Security claimant or on disability), wait until you’ve reached full retirement age or even until age 70.

Can I retire at 62 if I was born in 1964?

Full retirement age for survivors is 66 for people born between 1945 and 1956 and gradually increases to age 67 for people born in 1962 or later. Claiming benefits before full retirement age will lower your monthly payments; the earlier you file — you can start at age 62 — the greater the reduction in benefits.