Sentences with phrase «full at your retirement age»

Not exact matches

A widow or widower is eligible to start receiving reduced benefits on your record as early as age 60 and full benefits at their full retirement age.

You receive 100 percent of your retirement benefit if you claim at full retirement age — 66 or 67 for most individuals, depending on when you were born.

Since 1965, the average retirement age has dropped almost two full years, while life expectancy at age 65 has increased four years.

Let's say your monthly benefit at age 66, the current «full retirement age,» is $ 2,500.

As AARP explains, the older spouse claims retirement benefits at full retirement age and immediately suspends them.

Those with a full retirement age of 66, for example, would receive a 25 percent reduction in benefits if they start receiving benefits at age 62.

Likewise, if you start receiving spousal benefits at your full retirement age, you will collect 50 percent (the maximum) of the monthly benefit your spouse will receive if his or her benefits started at full retirement age.

This strategy is useful for dual - income couples in which each spouse qualifies for his or her own retired worker benefit, but one spouse must be at least full retirement age, AARP reports.

Here's how it works: The higher - earning (first) spouse files for benefits at full retirement age, enabling the other to file for spousal benefits as early as age 62 — which, again, amounts to half of what the first spouse is entitled to.

But both must be at least full retirement age.

If you wait until age 70, your check will be even greater than it would be at full retirement age.

Kittle's initial plan was to file at or near her full retirement age, and invest the benefit while she continued to work.

If you start receiving benefits as a spouse at your full retirement age, you will get 50 percent of the monthly benefit your spouse would receive if their benefits started at full retirement age.

Can you afford to «retire early» and claim benefits at age 62, should you wait until your full retirement age, or can you wait until age 70 in order to receive the largest possible monthly benefit?

The loophole allowed some married individuals to start receiving spousal benefits at full retirement age, while letting their own retirement benefit grow by delaying it.

If you start receiving spouse's benefits at age 62, your monthly benefit amount is reduced to about 32.5 percent of the amount your spouse would receive if their benefits started at full retirement age.

Under the new law deemed filing is extended to apply to those at full retirement age and beyond.

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

For example, my full retirement age is 67 and if I claim at age 62, the earliest age at which I can file for Social Security benefits, my benefit will be equivalent to 70 % of my full retirement age benefit.

Her late spouse's PIA is $ 1,473 in today's dollars and he claimed his benefit at his full retirement age.

However, if my full retirement age were 66 instead, and I claimed at age 62 or 70, then my benefit would be the equivalent of 75 % and 132 % of my full retirement age benefit, respectively.

The estimated Social Security benefit for workers retiring at full retirement age in 2018 is $ 1,404.

For 2018, the maximum monthly benefit payable to a newly retired worker at their full retirement age will be $ 2,788.

Born in 1955: Full retirement age rises by two months until stopping at age 67 for all those born in 1960 and later.

66 — If you are a Baby Boomer, you will reach your «full retirement age» at some point in this year.

This average is then applied to a formula to determine your primary insurance amount, or PIA, which is your initial monthly benefit at full retirement age.

Ultimately, breakeven analysis isn't the only thing you should consider when making this important decision, but if all other things are held equal, it can help you decide if you should file for benefits at your full retirement age or not.

This strategy may work best if you're younger than full retirement age and you will have a low monthly benefit at FRA compared with that of your deceased spouse.

The survey of 903 adults aged 50 or older, who are either already retired or plan to retire in the next ten years, revealed those who began receiving Social Security income early report a lower average monthly payment ($ 1,190) than those who started at their full retirement age ($ 1,506) and those who delayed benefits until age 70 ($ 1,924).

I plan on taking Social Security at 66, because that will be full retirement age for me, and my wife will receive 50 % of my benefit when I claim it (the max she can get).

For example, if your benefit at the current full retirement age of 66 is $ 1,000 but you opt to claim at 62, it would be reduced to $ 750.

Here's how it works: A person files for Social Security retirement benefits at full retirement age, but then suspends payment of them.

thanks, and yes, a pittance of a pension and regular checkups keep us on budget and head off any problems — best decision i ever made (financial or otherwise) was serving our country doing search - and - rescue, oil and chemical spill remediation, etc. (you can guess the branch of service)-- along the way, frugal living, along with dollar - cost averaging, asset allocation, and diversification allowed us to retire early — Vanguard has been very good over the years, despite the Dot Bomb, 2002, and the recession (where we actually came out better with a modest but bargain retirement home purchase)... it's not easy building additional «legs» on a retirement platform, but now that we're here, cash, real estate, investments and insurance products, along with a small pension all help to avoid any real dependence on social security (we won't even need it at full retirement age)-- however, like nearly everybody, we're headed for Medicare in several years, albeit with a nice supplemental and pharmacy benefits — but our main concern is staying fit, active, and healthy!

«If they want to collect divorced spouse benefits at full retirement age and switch to their own later, they should say it in the comments.

Pundits spend a good deal of time advising Americans about the best age to claim Social Security — at age 62, at full retirement age, at age 70 and the like.

For example, if your full retirement age is 67 and you start your retirement benefits at 62, prepare for your monthly benefit amount to be reduced by about 30 percent.

You can begin collecting Social Security at 62, but if you start taking your benefits before reaching your full retirement age — 65 to 67, depending on when you were born — your benefits will be reduced.

for those of us with almost all of our retirment in traditional 401ks our withdrawl rate is only for us to decide on the first few years of retirement assuming a person retires at full retirement age!

The BLS observes «The leading edge of the baby boomers (those born in 1946) became eligible for early Social Security benefits at age 62 in 2008 and reached full retirement age at 66 in 2012.

In 2016, deferred retirement earns an additional 8 % per year over full retirement age, up to age 70, meaning that if you retire at age 69 in 2016, your benefits will be 24 % higher than those for someone retiring at 66 with the same earnings history.

Full Retirement Age (FRA) is the age at which you are eligible to receive unreduced retirement benefiAge (FRA) is the age at which you are eligible to receive unreduced retirement benefiage at which you are eligible to receive unreduced retirement benefits.

The maximum Social Security payment for an individual who signs up at full retirement age will be $ 2,663 per month, an increase of $ 21 from 2014.

It includes examples of the age 62 survivors benefit based on an estimated monthly benefit of $ 1000 at full retirement age.

If you are not already receiving benefits, be sure to contact us at the beginning of the year you reach full retirement age.

You can retire at any time between age 62 and full retirement age.

In many cases, a widow or widower can begin receiving one benefit at a reduced rate and then, at full retirement age, switch to the other benefit at an unreduced rate.

As a general rule, survivors benefits based on age will be about the same total Social Security benefits over a lifetime, whether they start early or at full survivors retirement age.

If you know what the widow or widowers benefit is at full retirement age, you can use the information for the survivor's year of birth to find out how much the widows or widowers benefit would be at various ages.

The chart below lists age 62 reduction amounts and includes examples based on an estimated monthly benefit of $ 1000 at full retirement age.

Depending on when you were born, you can get a monthly benefit check that's up to 132 % of the amount you would otherwise receive at full retirement age.