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When Social Security was created, the full retirement age was set at 65. However, in 1983, lawmakers amended Social Security to try to shore up the finances of the program.
Birth year. Full retirement age. 1943–1954. 66. 1955. 66 and 2 months. 1956. 66 and 4 months. 1957. 66 and 6 months. 1958. 66 and 8 months. 1959. 66 and 10 months. 1960 or later
If you’re younger than full retirement age for all of 2024, the Social Security Administration will deduct $1 of your monthly check for every $2 you earn above $22,320 per year. If you reach ...
This age will vary by birth year, but it's 67 years old for everyone born in 1960 or later. Social Security full retirement age chart. Image source: The Motley Fool.
Birth Year. Full Retirement Age (FRA) 1943 to 1954. 66. 1955. 66 and 2 months. 1956. 66 and 4 months. 1957. 66 and 6 months. 1958. 66 and 8 months. 1959. 66 and 10 months
Age 62 is the earliest you can claim benefits, 67 is most people's full retirement age, and 70 is when monthly benefits stop increasing if you delay claiming them past your full retirement age ...
You can get Social Security retirement benefits as early as age 62, but your benefits will be reduced vs. what they would be if you waited until full retirement age.
If people born after 1960 claim their benefits the month they turn 62, they’ll get only 70% of what they would have received had they waited until the full retirement age of 67. The average ...