eOne needs to understand how retirement money works at.
Social Security benefits is your. It’s the money you’ve earned through decades of working, and no one should take your SS money.
social Security It is one of the most popular tools to reach the perfect goal economic retirement plan. It is part of the retirement plan of nearly every American worker.
Provides alternative income to eligible retirees and their families.
Better understanding of retirement benefits
social Security It replaces your average pre-retirement income based on your lifetime earnings.
The pre-retirement wages Based on your highest level 35 years of profits They vary based on how much you earn and when you choose to start benefits.
When you work and pay Social Security taxesyou win “credits” Towards Social Security Benefits.
If you stop working before you have enough credits to qualify for benefits, The credits will remain on your Social Security record. If you come back to work later, you will earn more credits.
Everyone needs At least 40 credit hours To earn retirement benefits from the Social Security Administration.
When can I start collecting Social Security?
The earliest age to receive Social Security retirement benefits is 62.
However, people who retire at age 62 will not receive the total amount of benefits granted by the Social Security Administration.
“If you start receiving benefits early, your benefits decrease by a small percentage each month before full retirement age,” says the Social Security Administration.
full retirement age
- Born 1943-1954: 66 years old.
- Born in 1955: 66 years and two months
- Born in 1956 AD: 66 years and 4 months
- Born in 1957 AD: 66 years and 8 months
- Born in 1958 AD: 66 years and 8 months
- Born in 1959 AD: 66 years and 10 months
- Born in 1960 and later: 67 years
If you were born in January 1will enter last year.
For example, if you were born on January 1, 1956, you would apply for 1955 Social Security benefits.
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