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The first step to maximizing your Social Security retirement benefit is earning a ... before you reach age 60 to be comparable to earnings in the year you turn 60 years old. ... to delaying your ...
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.
So when exactly is the full retirement age for Social Security? That depends on when you were born. Year of birth. Full retirement age. 1937 and before. 65. 1938-1942. 65 + 2 months for each year ...
Birth Year. Full Retirement Age. Payout From $1,000 Benefit If Taken At 62. 1943-1954. 66. $750. 1955. 66 and 2 months. $741. 1956. 66 and 4 months. $733. 1957. 66 and 6 months
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
Data source: Social Security Administration. Here's the maximum possible Social Security benefit at ages 62, 66, 67, and 70. Determining the best age to claim Social Security will come down to ...