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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
The basic idea behind the Social Security formula is that your 35 highest-earning years are indexed for inflation and averaged, and your monthly average earnings is applied to a formula with three ...
To qualify for Social Security as a retiree, you need to earn 40 work credits in your lifetime, at a maximum of four credits per year. In 2025, a single work credit is worth $1,810, up from $1,730 ...
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
Among the other Social Security changes coming in 2025 are a smaller cost-of-living adjustment at 2.5%, down from 3.4%; an increase in maximum taxable earnings from $168,000 to $176,100; and ...
In that case, it’s possible to earn up to $62,160 without losing any Social Security benefits, up from $59,520 in 2024. From there, $1 in Social Security benefits is withheld per $3 of earnings ...
There’s a formula used by the Social Security Administration (SSA) that takes your 35 highest-paid years of earnings into account and indexes earlier wages for inflation.
See: How Big Is the Average Social Security Check of a Middle-Class Retiree? Find: 3 Ways To Recession-Proof Your Retirement. In many cases, you can qualify for a higher benefit because of life ...