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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
- 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 1964 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 affects benefits
- 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 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
- 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
- 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
- How Does Claiming Social Security Early Affect Spousal Benefits? - AARP
Social Security spousal benefits are reduced based on how far you are from full retirement age when you claim them Read to learn more
- Understanding Social Security Retirement Benefits - AARP
The basics of social security retirement benefits, including how benefits work, how payments are calculated and awarded, and what you need to apply
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