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- 5 Things to Know If You Hope to Retire at 62 - AARP
Many people retire at 62 because that’s the earliest you can collect Social Security retirement benefits But just because you can claim monthly benefits at 62 doesn’t always mean you should Social Security pays 100 percent of the benefit calculated from your lifetime earnings history if you claim it at full retirement age
- What Is the Break-Even Age for Social Security? - AARP
Calculating your break-even age can help you determine which Social Security claiming strategy will pay the highest total benefits over your lifetime
- Can I Switch From My Social Security Benefit to a Spousal Benefit? - AARP
If your mate isn’t yet on Social Security, you can claim your retirement benefit at 62 (or later) and switch to spousal benefits when they do file
- If I Start Social Security Early, Will It Increase Later? - AARP
If you file early and retire, you’ll be stuck with permanently reduced Social Security benefits The financial implications can be huge
- Can You Work and Still Collect Social Security? - AARP
You can work and collect social security benefits, but the amount you receive will depend on whether you’ve reached your full retirement age
- When to Apply for Social Security to Start Benefits at 62 - AARP
By filing at 62, or any time before you reach full retirement age, you forfeit a portion of your monthly benefit If you were born in 1963 or later, for instance, filing at 62 could reduce your monthly payment by as much as 30 percent AARP’s Social Security Benefits Calculator can provide more details on how filing early reduces benefits
- Early Retirement Health Insurance - AARP
Key takeaways If you retire at 62, you probably won’t be eligible for Medicare Medicare for all but those with disabling chronic conditions begins at 65 One option to fill part of the gap is to use COBRA to keep your insurance A health plan through the Affordable Care Act marketplace is widely available Other options are available for a select few early retirees
- How Retirement Benefits Are Calculated By Social Security - AARP
They take a bite from the full benefit if you are younger than full retirement age — you can lose up to 30 percent of your benefit by starting retirement benefits at 62, the earliest possible age But Social Security adds to your payment for each month between full retirement age and 70 that you delay claiming benefits
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