Can I Ever Retire?

To contact us Click HERE

The retirement age has changed

by Roger Chartier

For collecting social security anyway. 
If you are lucky enough to be able to retire early and have enough money to wait until the almighty  Social Security kicks in,  good for you.

Once upon a time full retirement age was 65.

Things changed as they always do and the law is that you can retire at 65 only if you were born in or before 1938.

Changed retirement age

If you were born between 1943 and 1954 your full retirement age is 66. 
Oh and it gets worse.

For every 2 months of your age after age 62 your rate changes.
Try this link to a nice Social Security retirement benefits chart that will tell you just how much you can get percentage wise and at what age you would retire.
You might feel the need to retire earlier and if you retire at age 62 (the earliest you can retire) then you get 75% of what you'd get for retirement benefits at full retirement age.
Obviously the longer you wait the more money you will get each month.