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Calculating your Social Security break-even age can help you decide when the best time is to begin taking benefits. You can do that using a Social Security break-even calculator.
Here's how to calculate it, and how it could help you time when you take your Social Security benefits. One factor that can be especially enlightening is your Social Security break-even age.
Continue reading ->The post How to Calculate Your Social Security Break-Even Age appeared first on SmartAsset Blog. While you can technically start taking benefits as early as 62, you'd receive ...
If you wait until age 70 to collect Social Security, you would be a little under age 80.5 to break even. Because it takes so long to break even, waiting until a later age to claim Social Security ...
One of the biggest financial decisions you will make as a retiree is when to start claiming Social Security benefits. You can claim them as early as age 62, but the earlier you claim them,...
Regarding Social Security, there's a little-known rule that can greatly impact your monthly benefits: your payments are calculated based on your 35 highest-earning years. If you haven't worked a ...
The Social Security Administration calculates your benefit by first taking an average of your earnings throughout the 35 years of your career that you earned the most. That number is then run ...
Year of birth. Full retirement age. 1937 and before. 65. 1938-1942. 65 + 2 months for each year past 1937. 1943-1954. 66. 1955-1959. 66 + 2 months for each year past 1954